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The World Bank and the IMF Are Not Aligned on China’s Response to Global South Debt Crisis

Outgoing World Bank President David Malpass (left) and IMF Managing Director Kristalina Geogieva are saying two very different things when it comes to their response to China's role in the Global South debt crises. Patrick T. Fallon / AFP

Just a few days after International Monetary Fund Managing Director Kristalina Georgieva said real progress is being made in unblocking the impasse between China and developing countries over debt relief, her counterpart at the World Bank, David Malpass, conveyed a very different message on Bloomberg Television. 

“From China’s side, they are working to try to pull all their creditors together into a coordinated position, but it’s still a stalemate as far as progress being made,” Malpass said in an interview on Tuesday. “It’s been frustrating because of lack of progress.”

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