Rescue Countries Facing Debt Stress In These Uncertain Times: FM To World Bank

Finance Minister Nirmala Sitharaman has underlined the need to rescue countries facing debt stress due to the uncertainty caused by the pandemic and the recent geo-political developments.

During a meeting with World Bank Group President David Malpass on Friday, Sitharaman said India remains concerned about the risks to global recovery due to rising uncertainty amidst enhanced geopolitical tensions.

The Finance Minister, who is visiting the US to attend IMF-WB Spring Meetings 2022, suggested that multilateralism has become more critical as the world is undergoing a phase of exceptional uncertainty, a finance ministry statement said.

“On account of the pandemic and the recent geo-political developments, there is a need for the World Bank to come to the rescue of countries facing debt stress. In particular, the World Bank needs to pay special attention to Sri Lanka, which is facing an unprecedented economic situation,”…

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