Debt restructuring is making progress in countries outside of the G20, such as Sri Lanka, says the IMF Director of Strategic Communications

IMF Director of Strategic Communications Julie Kozack said on Friday that debt restructuring is making progress in countries outside of the G20 common framework, such as Sri Lanka. She is of the view that the G20’s common framework has been delivering on debt restructuring cases as well, such as in Chad, Ghana, and Zambia. Addressing a press conference on Friday, Kozack said that the debt restructuring process needs to accelerate, adding that creditor coordination has seen promising progress in these countries. "To help accelerate the debt restructuring process, Kozack said the IMF, along with the World Bank and India as G20 Chair, has initiated the Global Sovereign Debt Roundtable (GSDR). "We had a first meeting in February that brought together, for the first time, traditional Paris Club creditors and non-Paris Club official creditors, such as China.