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Pressure Mounts at IMF Against Blueprint for EM Debt Reworks
World financial leaders are pushing to overhaul a system for sovereign debt restructurings that has left poor countries locked out of capital markets as China’s emergence as a key player upends traditional negotiations. How to fix the so-called common framework initiative, hatched during the pandemic to help poor countries rework their debt, was among the top issues debated during International Monetary Fund’s spring meetings, which just wrapped in Washington DC. Leaders from the IMF and G-20 countries — which started and oversee the process — have made some fixes aimed at speeding up debt restructurings, ... (full story)