According to the international front, disadvantaged nations must also collect taxes and improve the quality of their spending so that the powers can help them restructure.
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Kristalina Georgieva, director of the International Monetary Fund (IMF), assures that poor countries must “do their part” in order to receive help from rich nations to restructure their debt and cover their financial needs.
Among the guidelines that disadvantaged economies should follow are tax collection, fighting corruption, improving the quality of spending and demonstrating commitment to their population — according to Georgieva.
If these conditions are met, rich countries will have to respond with “a large amount of international aid for debt restructuring,” among other points; since the rich cannot tell the poor that “their side of the ship is leaking” because otherwise “we would all sink.”
Georgieva concluded that the economies “have been resilient” despite the attacks of recent years, to the point that the IMF improved the estimate of world growth to 3.2% for 2024 thanks to the good performance of a handful of countries such as the United States. United States or China.
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Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
