China’s Central Bank Chief Signals Beijing Will Cooperate With Other International Creditors on Debt Relief

File image of Yi Gang, governor of the People's Bank of China, who seemingly retreated from Beijing's position that it would insist on multilateral developmemt banks also take losses on loans to developing countries. Image via Xinhua

The head of China’s central bank, Yi Gang, provided the clearest indication to date Beijing is willing to retreat from its demand that multilateral development banks (MDBs) also take write-downs on their loans to the world’s poorest countries.

Yi told participants at the IMF/World Bank’s annual Spring Meetings gathering, which concluded Sunday in Washington, D.C., that Beijing would “honor its comment to the G20 Common Framework, making joint efforts with all stakeholders.“

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by Eric Olander

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