At a meeting of Finance Ministers of Commonwealth Countries, a call has been made for a more holistic review of rules governing the global financial system.

The ministers opined that a number of the fiscal rules are no longer relevant to today’s economic settings and expressed the views that many of the rules are skewed against small states.

Additionally, they called for effective debt management strategies and assistance for states and the promotion of debt transparency.

They argued that these tools will help countries to navigate and deal with external shocks and disasters in a more effective and efficient manner.

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Readers Bureau, Contributor

Edited by Jesus Chan

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