NEW DELHI:

UN chief Antonio Guterres on Wednesday asked India for support in mobilizing G20 nations to help debt-ridden developing nations, with three of India's neighbors already seeking IMF loans as their economies struggle.

India takes over the G20 presidency from Indonesia for a year from December 1. India's neighbors Sri Lanka, Pakistan and Bangladesh have sought IMF loans in recent months as high oil prices complicate efforts to recover from the economic damage caused by the Covid-19 pandemic.

"I look forward to India's support in mobilizing the G20 countries around debt relief," Guterres told students and faculty at the Indian Institute of Technology in Mumbai. "Many developing countries are close to or approaching debt distress and require multilateral action, including the extension and expansion of the G20 Debt Service Suspension Initiative."

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