- The event will be co-chaired by the IMF, World Bank, and India (as the 2023 President). The main objective of the discussion will be to identify the impediments in the debt restructuring processes.
- Sovereign debt is the amount that a government owes to financial organizations, including domestic and foreign ones.
- The sovereign debt rating reflects the amount of debt a country has, and investors make their investment decisions based on this rating.
- To reduce sovereign debts, the World Bank and IMF launched debt restructuring processes, which will be discussed at the roundtable.
- The G20 Finance Track, which focuses on inclusive finance and digital finance, will also be held, during which countries will discuss the financial issues they faced during the COVID-19 pandemic, share their fiscal policies and taxation lessons, and work towards providing funds to developing countries in need.
- The IMF and World Bank will play a key role in providing loans and concessional finances to economically vulnerable countries, with the aim of supporting poverty reduction and growth trust.
Question:
Q.1 Where is the Global sovereign debt roundtable being held?
a. Guwahati
b. Indore
c. Chennai
d. Bengaluru
