Senior IMF official calls for more efforts to deal with debt restructuring

The deputy man­ag­ing di­rec­tor of the In­ter­na­tion­al Mon­e­tary Fund (IMF), Dr. Nigel Clarke, said Mon­day the in­ter­na­tion­al com­mu­ni­ty must fur­ther im­prove debt re­struc­tur­ing process­es to en­sure that coun­tries with un­sus­tain­able debt have ac­cess to time­ly and suf­fi­cient­ly deep debt re­lief.

Dur­ing the keynote ad­dress at the Fourth Fi­nanc­ing for De­vel­op­ment Con­fer­ence (FFD4), Dr Clarke. a for­mer fi­nance and plan­ning min­is­ter of Ja­maica, said that the four day event comes at “a par­tic­u­lar­ly chal­leng­ing mo­ment”, and “at a time when the re­silience of the world econ­o­my is be­ing test­ed.”

He said un­cer­tain­ty has been es­ca­lat­ing as ma­jor pol­i­cy shifts re­shape coun­tries’ pri­or­i­ties and de­spite progress on trade talks and the scal­ing back of some tar­iffs, trade pol­i­cy un­cer­tain­ty in­di­ca­tors re­main “off the charts”.