US Treasury calls for IMF, World Bank action to address liquidity pressures to prevent debt crises in developing nations

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WASHINGTON, Oct 12 — The US Treasury’s top economic diplomat yesterday called on the International Monetary Fund and mul...

The plan “will require hard work and innovation” at the international financial institutions, he said, adding that they will need to design their lending and reform programmes in a way that avoids having temporary fiscal adjustments lead to permanent harm due to cuts to important investments, such as for infrastructure.

Jay Shambaugh, the Treasury’s undersecretary for international finance, told an Atlantic Council event that the Treasury was working with these institutions “to find a better path” for countries with high but sustainable debts that face liquidity pressures.

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Category: EconomyBusiness

Markets: MalaysiaChinaHong Kong

Topics: US Treasury Department International Monetary Fund Debt crisis Liquidity pressures Multilateral development banks Developing nations World Bank

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-12 @ 12:47:31 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 241 words

Reading Time: 2 minutes read

Sentences: 9 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Malay Mail

News ID: 23007299

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