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Finance Ministers of Commonwealth Countries are calling for a holistic review of rules governing the global financial system, especially those skewed against small states.
At a meeting this week, the ministers said a number of the fiscal rules are no longer relevant and do not reflect the extraordinary and peculiar economic conditions of today.
They have also called for effective debt management strategies and assistance for states, and the promotion of debt transparency.
They say these tools will help states maneouver external shocks and disasters in a more prudent manner.
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