New Delhi-Agencies:
IMF Managing Director Kristalina Georgieva said on Saturday, on the sidelines of a meeting of the group of twenty, that there are some disagreements on debt restructuring of troubled economies, adding that a ban on private cryptocurrencies should be among the options.
India is currently chairing the group of twenty at a time when its South Asian neighbors, Sri Lanka, Bangladesh and Pakistan, are seeking urgent funding from the International Monetary Fund due to an economic slowdown caused by the spread of the covid-19 pandemic and the Russian-Ukrainian war.
China, the world's largest creditor in bilateral transactions, urged the group of twenty countries on Friday to conduct a fair, objective and in-depth analysis of the causes of global debt problems as the clamor for lenders to significantly reduce loans or accept losses grows.
Georgieva told reporters after the meeting, which she co-chaired with Indian Finance Minister Nirmala Sitharaman: "with regard to debt restructuring, there are still some differences. We are now holding round-table talks to discuss the issue of global sovereign debt, taking into account all creditors from the public and private sectors,"he said.
"We have just finished a session in which it was clear that there was a commitment to overcome differences for the benefit of countries,"she continued.
Along with debt restructuring, cryptocurrency regulation is another priority issue for India, which gurgaeva agreed with.
"We have to differentiate between state-backed central bank digital currencies and stablecoins, and between crypto-assets that are issued privately,"Georgieva said.
"There should be a very strong pressure for regulation, if regulation fails, if you slow down in it, we should not rule out banning those assets, because they could create risks to financial stability,"she added.
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