Tag: International Monetary Fund
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China Observes But Doesn’t Participate in Sri Lanka’s Inaugural Debt Meeting
Sri Lanka's major bilateral creditors convened their first meeting on Tuesday, but the country's largest bilateral lender, China, was in the room but only as an observer. “If China decides to participate, we would welcome it,” Masato Kanda, Japan’s vice minister ...
Power Minister Warns That West Pakistan Will Turn to China if IMF Financing Doesn’t Come Through
Pakistan's Power Minister Dastgir Khan issued a blunt warning to the U.S. and other Western countries that if they want to keep Islamabad from becoming even more closely aligned with China, they need to make sure that an IMF rescue deal gets signed.
With Chinese Assurances, IMF Chief Expresses New Optimism Zambia Debt Deal Now Imminent
The head of the International Monetary Fund, Kristalina Georgieva, expressed renewed confidence that China, together with Zambia's other major creditors, is close to finalizing a debt deal that will clear the way for a $1.3 billion IMF emergency financial package.
WEEK IN REVIEW: German Chancellor Olaf Scholz Embarks on Three-Day, Two-Nation African Tour
German Chancellor Olaf Scholz will embark on a three-day, two-nation African tour, marking the second G7 leader this week to visit the continent. Scholz will arrive in Ethiopia on Thursday and then go to Kenya on Friday. The Chancellor's visit is widely seen as part a broader EU ...
China Now Getting Serious About Global South Debt Relief Because “They Are Now Being Burned” Says IMF Chief
The head of the International Monetary Fund (IMF), Kristalina Georgieva, is once again signaling that China is now serious about participating in multilateral debt restructuring efforts for the world's poorest countries. Georgieva said on Monday that Beijing's reluctance to accept losses ...
Understanding China’s Role in the Developing World Debt Crisis (Part 2)
The widely debunked Chinese debt trap narrative re-surfaced again in Washington, D.C. when the top U.S. military commander for Africa General Michael Langley testified before Congress -- highlighting the urgent need for better information about Chinese lending practices in developing countries. ...
Update on China’s Role in the Burgeoning Global South Debt Crisis
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 ...
China’s Central Bank Chief Signals Beijing Will Cooperate With Other International Creditors on Debt Relief
The head of China's central bank, Yi Gang, provided the clearest indication to date Beijing is willing to retreat from its demand that multilateral development banks (MDBs) also take write-downs on their loans to the world's poorest countries. Yi told participants at ...
First Signs of Progress on Debt at Spring Meetings, But Much Remains Unclear
There is cautious optimism at the World Bank and International Monetary Fund (IMF) spring meetings in Washington DC for progress on debt relief. Earlier this week, Reuters and other outlets reported that China could be willing to drop its demand that Multilateral Development Banks (MDBs) like the World Bank ...
China Willing to Compromise in Debt Stand-off With World Bank and Other International Creditors, Say Reports
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 ...
Debt Standoff At IMF, World Bank Spring Meetings
Finance ministers from around the world have descended on Washington DC for the World Bank and International Monetary Fund’s Spring Meetings. The Chinese government has confirmed that a top-level Chinese delegation will attend in person -- the first time since the COVID pandemic.
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 that get underway on Monday in Washington, D.C. ...