USA: WASHINGTON: G24 MEETING CALLS FOR INTEREST RATE CUTS

The press conference led by Mr. Oskar Hendrik of the Group of 24 addresses the insufficiency of current measures to tackle the economic crisis affecting several countries. The discussion highlights the need for rapid action to prevent a looming recession. A new proposal suggests expanding debt relief measures for countries with intermediate income levels but significant debt burdens, as they struggle to resolve their issues independently.

What is the potential consequence if the crisis is not addressed quickly?

What challenges do countries with intermediate income face according to the chairman?