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The President of the World Bank Group, David Malpass has said the group is working actively in collaboration with the International Monetary Fund on the common framework that the G20 established for dealing with debt overhang and debt burdens.

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The President of the World Bank Group, David Malpass has said the group is working actively in collaboration with the International Monetary Fund on the common framework that the G20 established for dealing with debt overhang and debt burdens.

 

He said this while responding to questions at the press conference at the 2021 spring meeting on Wednesday.

 

He noted that many of the middle-income countries had access problems to market-based finance, and they also had rising fiscal deficits that were problematic.

 

While stressing the relevance of transparency, he said the group needed to look for a more balanced relationship between creditors and debtors; adding that a major challenge facing middle-income countries was that collateralised debt was very hard to restructur

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