It will"likely to have an impact on food prices, which will more heavily impact poorer nations", South African Finance Minister Enoch Godongwana said.
"The thing that keeps me up at night is a mistrust that is quietly pulling the Global North and South apart at a time when we need to be uniting," Ajay Banga said Tuesday. "When they should be ascendant, they're concerned promised resources will be diverted to Ukraine's reconstruction, they feel energy rules aren't applied evenly, constraining ambition, and they're worried the grip of poverty will pull down another generation."
"We were able to push this agenda of debt distress, particularly among the Global South countries, and that speedy, effective resolution should happen," Sitharaman said.