WASHINGTON – U.S. Treasury Secretary Janet Yellen will push this week for urgent resolution of requests by Zambia and Ghana for restructuring of their sovereign debts, and moves to conclude a debt treatment for Sri Lanka, Treasury said on Monday.Yellen, who is slated to meet counterparts from around the world during this week’s meetings of the World Bank and International Monetary Fund (IMF), is also pushing for concrete steps to speed up the overall debt relief process and make it more predictable, Treasury Undersecretary Jay Shambaugh said.“During the week, Secretary Yellen will … maintain urgency for the speedy resolution of Common Framework cases like Zambia and Ghana to remove debt overhangs and foster growth in developing countries,” Treasury said in a statement.Sri Lanka, Zambia and Ghana have already defaulted on their overseas debt and are working towards debt reworks with creditors. Some 60 percent of low-income countries are in or near debt distress, but the […]
Yellen to push for ‘speedy’ action on debt relief for Zambia, Ghana
