As G20 Debt Relief Effort Flounders, World Bank President Calls Out the Chinese by Name

AFP

There’s growing unease in the international donor community that China doesn’t seem aligned with other major creditors on how to resolve the increasingly serious debt crisis in Africa and other developing regions. World Bank President David Malpass hinted at simmering frustrations when he called out the China Development Bank in particular, for not fully engaging in the G20’s debt service suspension initiative (DSSI). 

World Bank data reveals that the 73 countries are eligible for the G20’s DSSI to postpone payments worth $11.5 billion this year, but so far only half of that amount will actually be suspended. All in all, a rather paltry sum in light of how much developing countries owe international lenders.

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by Eric Olander

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