Kristalina Georgieva, managing director of the International Monetary Fund, stated that countries with high debt levels and limited policy space will face additional strains.
She stated at the hybrid meeting of G20 Finance Ministers and Central Bank Governors, “Look no further than Sri Lanka as a warning sign.”
She stated that emerging and developing nations have also experienced four consecutive months of capital outflows. They now risk reversing three decades of catching up to developed economies and falling further behind.
