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Update on China’s Role in the Burgeoning Global South Debt Crisis

by Eric Olander

There was a lot of excitement earlier this month at the IMF and World Bank’s annual gathering in Washington, D.C. about rumors that the impasse between China and multilateral development banks (MDBs) had been resolved. That stalemate between the Chinese and the MDBs, namely the World Bank, has impeded debt restructuring deals in Sri Lanka, Zambia, and now Ghana among other countries.

But now, two weeks later, there’s still no official confirmation from either China or the MDBs that they’ve settled their differences.

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