United Nations has welcomed International Monetary and Finance Committee and World Bank Group Development Committee to address debt crises and other financial distress to economies arising from COVID-19 pandemic.

In a statement, UN chief Secretary-General Antonio Guterres called on all countries and institutions to join in a global effort to rethink principles underpinning today's debt architecture.

He also encouraged IMF's and World Bank's emphasis on a sustainable, inclusive, smart and green recovery.