U.S. Treasury Secretary to press for urgent resolution….
As well as working to complete a debt treatment for Sri Lanka, U.S. Treasury Secretary Janet Yellen will press for an urgent resolution of Zambia’s and Ghana’s requests for reorganizing their sovereign debts this week, the U.S. Treasury announced on Monday.
The International Monetary Fund (IMF) and World Bank meetings are taking place this week, and Yellen will be attending. According to Treasury Undersecretary Jay Shambaugh, Yellen is advocating for specific actions to speed up and make more predictable the overall debt relief process.
According to a statement from Treasury, Secretary Yellen will “maintain urgency” for the swift resolution of Common Framework issues like Zambia and Ghana in order to reduce debt burdens and promote economic growth in developing nations.