Follow CGSP on Social Media

Listen to the CGSP Podcast

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

by Eric Olander
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.”

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More

You Might Like

Why Africa Shouldn’t Count on Janet Yellen for Debt Help

U.S. Treasury Secretary Janet Yellen is in Africa touting the Biden administration’s reenergized Africa policy. Her visit comes as several African countries are struggling with debt distress and Zambia and Ghana have officially defaulted. Debt’s prominence ...

China Sticks to Its Position That Its Not to Blame for Delays in Zambia’s Debt Restructuring Process

Any hope China would soften its hardline position on debt restructuring following last weekend’s talks among G20 finance ministers was dashed on Monday when Foreign Ministry Spokesperson Mao Ning restated Beijing’s longstanding demand ...

IMF, World Bank Losing Patience With China Over Debt Relief Standoff

China’s ongoing stand-off with multilateral lenders over debt relief terms for developing countries will be a prominent issue at International Monetary Fund and World Bank’s annual week-long gathering known as the Spring Meetings ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.