Today is a public holiday in South Africa – Human Rights Day. There’s a certain irony in spending the day focusing on China’s President Xi Jinping’s visit to Vladimir Putin, knee-deep in a human rights disaster.
What one makes of the Ukraine crisis increasingly maps on where one lives. This is made clear by a remarkable new set of polling data recently published by the European Council on Foreign Relations ...
Country: Sri Lanka
World Bank President Nominee in China for Critical Meetings With Finance Leaders
Ajay Banga arrived in Beijing on Wednesday for the latest stop in his worldwide job interview to become the next president of the World Bank. Banga is scheduled to meet with Chinese Finance Minister Liu Kun, various leaders from the People's ...
Analysis from Cobus van Staden
Xi Bets on Global South in Moscow
IMF Head Kristalina Georgieva Will Go to Beijing in Bid to Break Debt Relief Impasse With China
International Monetary Fund Managing Director Kirstalina Georgieva will travel to China at the end of this week for a visit that will be closely watched by finance ministries throughout the Global South. The primary purpose of Georgieva's trip is to deliver keynote ...
China vs. the Multilateral Development Banks
There was a major breakthrough this week in China's months-long standoff with the World Bank, IMF and other multilateral creditors when Beijing agreed to fully back Sri Lanka's debt restructuring. The move now clears the way for Colombo to secure $2.9 ...
Rays of Hope Following China Settlement in Sri Lanka
China’s commitment to supporting Sri Lanka’s debt restructuring in line with other bilateral creditors is a major step towards securing a rescue package from the International Monetary Fund. However, it’s still unclear how negotiations will proceed, as the country suffers from food and ...
China Unexpectedly Backs Sri Lanka Debt Plan, Clearing the Way for Desperately-needed IMF Rescue Funds
After months of delays and obfuscation, the China Exim Bank suddenly and unexpectedly reversed course this week and agreed to fully support Colombo's debt restructuring plan. President Ranil Wickremesinghe broke the news on Tuesday when he told parliament that China Exim would ...
Senior U.S. Diplomat Criticizes China’s Role in Sri Lankan Debt Restructuring
Yet another U.S. government official has added to the war of words between Washington and Beijing on debt restructuring. Ramin Toloui, Assistant Secretary for the Bureau of Economic and Business Affairs at the US Department of State, was asked about China’s ...
Stand-off Between China and Western Creditors Leading to Unprecedented Delays In Debt Relief for Poor Countries
Just ten years ago, it usually took less than two months for a debt-distressed country to get a sign-off from the International Monetary Fund for emergency financial relief, but that is no longer the case, according to new data compiled by Reuters.
China’s Premier Promises IMF Chief “Constructive” Cooperation on Debt
Chinese Premier Li Keqiang told the head of the International Monetary Fund that China is open to participating “in a constructive manner” with debt restructuring efforts. During a call with IMF Managing Director Kristalina Georgieva, Li said: “China is willing to take ...
IMF Head Flatly Rejects China’s Call for Multilateral Development Banks to Take Losses on Loans: “Not Possible”
International Monetary Fund Managing Director Kristalina Georgieva flatly rejected China's demand for multilateral development banks (MDBs) to accept losses or "haircuts" for loans to the world's poorest countries. "Not possible" she bluntly declared in an interview with Bloomberg following this weekend's ...
Sri Lanka President to Meet With Chinese Finance Minister in Bid to Unblock Debt Relief
Sri Lankan President Ranil Wickremesinghe will meet with Chinese Finance Minister Liu Kun on Friday for what's been described as "a last-ditch effort" to get Beijing to align with Colombo's other creditors for desperately-needed debt relief. The two will ...
China Unphased by Report IMF May Circumvent Beijing on Sri Lanka Debt Relief
Sri Lankan debt restructuring seems to be hitting a stalemate, judging by Monday’s Foreign Ministry press briefing. Asked about a recent Bloomberg report that the IMF is considering circumventing Chinese approval in providing a relief deal to the bankrupt country, spokesperson Wang ...