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China Willing to Compromise in Debt Stand-off With World Bank and Other International Creditors, Say Reports

World Bank President, David Malpass, walks out of a meeting during the International Monetary Fund and World Bank Spring Meetings at IMF headquarters in Washington, DC, on April 11, 2023. ANDREW CABALLERO-REYNOLDS / AFP

Chinese negotiators are reportedly making progress in talks with other major international creditors to break the ongoing impasse that’s blocking debt relief for a number of poor developing countries, particularly in Africa.

Both the Wall Street Journal and Reuters quoted unnamed sources on Tuesday that indicated China might be willing to drop its demand that multilateral lenders, specifically the World Bank, also take losses on their loans.

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