Tag: International Monetary Fund

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.

The G20 finance ministers meeting in India came and went without any progress on the debt standoff between China and the IMF/World Bank over who should take losses on loans to the world's poorest countries. ...

Ghana’s President Nana Akufo-Addo is optimistic that the debt-ridden country will reach a bailout deal with the International Monetary Fund by the end of the month. Speaking at a gathering of ambassadors and high-level officials, Akufo-Addo said: “I’m confident that with ...

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 ...

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 ...

In hindsight, it was foolish to think that China, the U.S., India and the Europeans were somehow going to put aside their differences to make desperately-needed compromises to help the world's poorest countries restructure their debts. We should have known this ...

The world's most powerful finance ministers, central bank heads and development finance leaders met on Saturday in Bengaluru, India for a highly-anticipated roundtable that many hoped would unblock the current impasse on debt relief for poor countries. While debt ...

If China is successful in its effort to force multilateral development banks (MDB) like the World Bank and the International Monetary Fund to accept the same kind of writedowns (known as 'haircuts') on loans to poor countries as other lenders, it would endanger the entire global development ...

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 Wenbing basically restated China’s current position.

The International Monetary Fund may have found a way to unblock the impasse with China that's blocked Sri Lanka's $2.9 billion emergency financial package. The IMF, according to Bloomberg, is actively considering invoking a rarely used policy that allows the fund to issue ...

The Indian government, in its role as rotating head of the Group of 20, is drafting what will no doubt be a controversial proposal that calls on all major international creditors, namely China, to take large losses on its loans to poor countries.

The Chinese government re-stated on Wednesday that it will not move forward with the Sri Lankan debt restructuring process unless both commercial creditors and multilateral development banks also agree to accept losses on their loans. Ministry officials told Reuters that Spokesperson ...