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IMF Focuses on Supporting Low-Income Countries Facing High Debt Levels

The International Monetary Fund (IMF) and the World Bank have highlighted the challenges facing low-income countries, particularly concerning their unsustainable debt burdens. IMF Managing Director Kristalina Georgieva emphasized the need to address the economic challenges these countries are facing, exacerbated by the COVID-19 pandemic and other shocks.

With high debt levels hindering economic progress, the IMF is working on reinforcing its ability to support low-income countries through various measures, including quota share increases and adding resources to its Poverty Reduction and Growth Trust. Georgieva stressed the importance of making these countries more attractive to investors and helping them increase domestic revenues to invest in essential sectors like education, health, and infrastructure.