IMF Head Flatly Rejects China’s Call for Multilateral Development Banks to Take Losses on Loans: “Not Possible”

IMF Managing Director Kristalina Georgieva spoke with Bloomberg TV following last weekend's debt roundtable at the G20 finance minister and central bank leaders meeting in India. Image via Bloomberg.

International Monetary Fund Managing Director Kristalina Georgieva flatly rejected China’s demand for multilateral development banks (MDBs) to accept losses or “haircuts” for loans to the world’s poorest countries.

“Not possible” she bluntly declared in an interview with Bloomberg following this weekend’s G20 finance ministers and central bank leaders meeting in India.

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by Cobus van Staden

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