The Economic Times

IMF chief urges US and wealthy nations to rein in debt to ease global economic pressure

The International Monetary Fund emphasized the urgent need to address rising global debt impacting low-income countries. IMF Managing Director Kristalina Georgieva highlighted that economic growth alone cannot resolve the national debt crisis. Nations are facing difficult choices between supporting vulnerable populations and meeting debt obligations due to escalating interest rates. A new deal on debt repayment and refinancing options is necessary to provide fiscal space.