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World Bank's Reinhart urges G20 restructuring legislation, transparency

FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo

WASHINGTON/NEW YORK (Reuters) - Governments from the group of 20 countries could adopt legislation to facilitate “more expedient and balanced” debt restructuring process, the World Bank’s chief economist Carmen Reinhart said on Friday.

Reinhart urged all G20 countries to require public creditor institutions to disclose debt contracts, freeze agreements, and make refinancing agreements public.

Reporting by Andrea Shalal and Rodrigo Campos

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