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IMF and World Bank Leaders Say the World’s Debt System is Broken and in Need of Urgent Repair

Leaders from the International Monetary Fund and the World Bank, including IMF chief Kristalina Georgieva, declared that the current “debt architecture” is broken and needs urgent action to prevent a full-blown crisis in some of the world’s poorest countries.

“The world is at a critical juncture and should not sit idle waiting,” said the authors in an article published last week on the IMF’s website.

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