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World Bank President Says He’s Confident China, Private Creditors Will Deliver Debt Relief

World Bank Group President David Malpass speaks at a press briefing on COVID-19 in Washington, DC, on March 4, 2020. NICHOLAS KAMM / AFP

World Bank President David Malpass (photo) told Bloomberg that he’s confident private creditors will somehow come up with a way to restructure the $140+ billion of bond debt that poor countries owe investors.

“The view of the international community was very clear in the G-20 communique and discussions, that the private-sector creditors are expected to work out a methodology to provide comparable treatment to what’s being done by the official bilateral creditors,” Malpass said in a phone interview Monday. “I think they will be able to do that and need to push forward.”

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