IMF fiscal chief underscores need for 'orderly debt restructuring'

WASHINGTON, Oct 12 (Reuters) - Rising debt levels and mounting fiscal pressures underscore the urgency for more "orderly debt restructuring" efforts and debt relief to put low-income countries on a more sustainable path, the International Monetary Fund's fiscal chief said on Wednesday.

Fiscal Affairs Director Vitor Gaspar told reporters the situation facing low-income countries was exacerbated by food and energy shocks and climate disasters.

"The rise of extreme poverty and food insecurity that began before the pandemic should be addressed at the global level by a broad set of initiatives," he said, as well as more efforts to reduce the debt stock of vulnerable countries. (Reporting by Andrea Shalal)