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Sharply Contrasting Views on Whether China is Right to Demand Multilateral Development Banks to Take Losses on Their Loans

Andrew CABALLERO-REYNOLDS / AFP

The dispute between China and Western lenders about how Multilateral Development Banks (MDBs) should take part in debt restructuring goes beyond current U.S.-China tensions.

Rather, it relates to the fundamental question of how to fund development, rooted in much broader differences between the Global North and the Global South.

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