The International Monetary Fund’s chief urged nations with high levels of dollar-denominated debt to try to extend maturities now to lessen pressure as the U.S. Federal Reserve raises interest rates.

Managing Director Kristalina Georgieva said that her worry is greatest for low-income countries because 60% are in debt distress or in danger of reaching that point. She predicted a more difficult year ahead for policymakers based on the differences between nations and the nuance of the solutions required, and that 2022 will be like “navigating an obstacle course.”

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.