As more developing nations are turning towards the International Monetary Fund (IMF) to brave through the current challenging economic conditions, the agency’s chief pointed out that the support would be expedited if three basic requirements are fulfilled.
Acknowledging that the Fund is aware of the measures required for the crisis-struck countries, IMF Managing Director Kristalina Georgieva said it is crucial for nations to show the exact picture, as it is.
“What is common (with countries seeking assistance) is that we are not quite recognising the urgency to deal with these problems, and we know what has to be done,” she said in discussion with Center of Global Development (CGD) President Masood Ahmed this week.
The IMF chief pointed out four criteria that need to be fulfilled; transparency, the establishment of rules, efforts to bring creditors onto one platform, and political will.