IMF Changes Lending Rules to Speed Up Debt Restructuring.

The International Monetary Fund (IMF) has reformed its process of supporting debt restructurings by allowing programs to move forward despite holdout creditors. The reforms aim to ensure a smoother and faster process in the future. The changes come in response to frustrations with the slow pace of debt workouts under the Common Framework, a program endorsed by the Group of 20 for debt treatment in poor countries. China, the largest creditor to emerging markets, has faced scrutiny for delays in restructuring debt. The IMF is working to reduce the time between reaching an agreement with fund staff and securing creditor assurances needed for board approval. [Extracted from the article]