IMF considers sovereign debt protection

US - The International Monetary Fund has unveiled a radical plan to make itself the gatekeeper for a system designed to give heavily-indebted countries bankruptcy protection.

If the concept ever becomes reality, it could mean that countries at risk of defaulting on their loans could be granted a stay on their interest payments while they reschedule. Four out of the seven G7 countries are said to have backed the idea at the group of leading industrial states' most recent meeting in Ottawa earl

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