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China Now Getting Serious About Global South Debt Relief Because “They Are Now Being Burned” Says IMF Chief

Kristalina Georgieva, Managing Director of the International Monetary Fund, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 1, 2023. Patrick T. Fallon / AFP

The head of the International Monetary Fund (IMF), Kristalina Georgieva, is once again signaling that China is now serious about participating in multilateral debt restructuring efforts for the world’s poorest countries.

Georgieva said on Monday that Beijing’s reluctance to accept losses on its loans to developing countries and resistance to cooperating with other creditors is beginning to ease.

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