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U.S. Discussed Debt Issues With China While Also Hinting Beijing Uses Loans for “Coercive Leverage” in South Asia

by Eric Olander
United States' Secretary of Treasury, Janet Yellen addressed the media during a news conference at the G20 Finance and Central Bank Deputies in Bengaluru on February 23, 2023. Manjunath KIRAN / AFP

There was a hint of optimism going into Saturday’s debt roundtable organized by India, the World Bank and the IMF that the U.S. and China might be able to find some common ground.

Deputy-level officials from both countries met on Friday, according to Reuters, to discuss their respective positions on debt relief for developing countries ahead of Treasury Secretary Janet Yellen and Finance Minister Liu Kun’s participation the following day in the roundtable.

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