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IMF and World Bank call for help to middle-income countries struggling to pay debt

WASHINGTON, Apr 9 (Reuters) – The International Monetary Fund and the World Bank should do more to help address the growing debt repayment difficulties of middle-income countries and identify “the source of excessive and unsustainable financial burdens.” A joint committee of the institutions said on Friday.

In a statement, the joint ministerial committee representing the member countries of the IMF and the WB also asked the institutions to assess the impact of climate change on macroeconomic and financial stability.

“In addition, we encourage the group (from the World Bank and the IMF) to support a measurable impact on the transition to low-carbon economies, taking into account the energy needs of countries, and providing specific support for the poorest. These efforts will include phasing out inefficient energy subsidies and other distorting fiscal policies when feasible, “the committee said.

(Reporting by David Lawder. Edited in Spanish by Marion Giraldo)

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