Tag: International Monetary Fund

The Indian government called on China to stop blocking the debt restructuring process for the world's poorest countries, adding to the pressure on Beijing ahead of a critical meeting with the World Bank and the International Monetary Fund on Friday. Amitabh ...

Botched reporting in a Financial Times article on Zambian debt made clear how nervous China’s push for the World Bank and other multilateral financers to accept losses as part of debt restructuring is making international stakeholders. In its corrected form, the report quotes ...

China’s dispute with the Bretton Woods institutions dates back to at least the Obama era. The U.S. Congress refused to ratify a 2010 plan to recapitalize the IMF, which would have given large emerging economies enhanced voting rights because it could have affected the U.S.’s veto vote.

The Sri Lankan government suffered another setback in its ongoing effort to secure a $2.9 billion emergency financing package from the International Monetary Fund after the lender informed Colombo it would have to secure more assurances from its creditors, namely China, to provide debt relief. ...

The Paris Club of wealthy creditor states turned up the pressure on China to resolve the current impasse that's blocking debt relief for Sri Lanka and other developing countries. “The Paris Club members as well as Hungary and Saudi Arabia urged other official ...

At first glance, Ghana doesn't owe China that much when measured against its outstanding debts to both multilateral development banks like the IMF and the World Bank and, more importantly, bondholders. $1.7 billion in the context of what other developing countries owe Chinese ...

Brad Setser, a senior fellow at the Council on Foreign Relations and a noted sovereign debt expert, wrote a brief analysis of why the China Exim Bank's offer of a two-year debt moratorium is "insufficient". (The following transcript has been lightly ...

Dear China-Global South Project Editors, I read the China-Global South Daily Brief of 8 November 2022 and came across the paper by Jin Zhongxia whose name 金中夏prompted the title of this letter to the editor. I, of course, agree with ...

China's apparent refusal to send officials to last week's annual meetings of the World Bank and International Monetary Fund prompted widespread criticism from G7 finance ministers who accused Beijing of not doing enough to help resolve the growing debt crisis in Africa and other developing regions.

After months of inaction, there's word now of an important breakthrough in restructuring Zambia's ballooning $32 billion debt. China, widely perceived as the lone holdout, has finally agreed to join a multi-party creditors committee, according to IMF Managing Director Kristalina Georgieva during the group's Spring Meetings that took place last ...

David Malpass, the president of the World Bank, again singled out China in calling for new debt restructuring mechanisms to help the developing world. Malpass and the International Monetary Fund’s managing director Kristalina Georgieva told reporters that rising interest rates are exacerbating a debt crisis among developing countries already ...

With 41 of the world's most indebted countries now facing the real prospect of default, a trio of high-level officials at the International Monetary Fund has issued an urgent appeal to the world's major creditors to take action. "Putting in place ...