https://sputnikglobe.com/20221014/us-g7-partners-urge-china-to-provide-debt-relief-to-low-income-countries---yellen-1101862594.html
US, G7 Partners Urge China to Provide Debt Relief to Low Income Countries - Yellen
US, G7 Partners Urge China to Provide Debt Relief to Low Income Countries - Yellen
Sputnik International
WASHINGTON (Sputnik) - The United States and its Group of Seven (G7) partners are urging China to provide debt relief to low-income countries, US Treasury... 14.10.2022, Sputnik International
2022-10-14T20:57+0000
2022-10-14T20:57+0000
2022-10-14T20:57+0000
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"All major official bilateral creditors, including China, should also deliver on our G20 commitments to provide debt relief to low income countries," Yellen said during a press conference.Yellen said that debt issues are growing more acute for African countries and China is the main creditor country standing in the way of efforts to resolve excessive debt.The United States and its G7 partners have had many discussions about what they can do to persuade China to cooperate on debt relief efforts.World Bank President David Malpass said earlier this week that the bank is supporting the idea of comprehensive debt reduction, but he expressed concerns that the international community simply does not have the mechanism which would allow it to solve the debt issue.Malpass stressed that the composition of debt has changed significantly over the years towards China and private sector creditors.
https://sputnikglobe.com/20220825/some-debt-trap-china-forgives-23-unpaid-loans-to-17-african-nations-readies-10-billion-in-credit-1100000572.html
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US, G7 Partners Urge China to Provide Debt Relief to Low Income Countries - Yellen
WASHINGTON (Sputnik) - The United States and its Group of Seven (G7) partners are urging China to provide debt relief to low-income countries, US Treasury Secretary Janet Yellen said on Friday.
"All major official bilateral creditors, including China, should also deliver on our G20 commitments to provide debt relief to low income countries," Yellen said during a press conference.
Yellen said that debt issues are growing more acute for African countries and China is the main creditor country standing in the way of efforts to resolve excessive debt.
The United States and its G7 partners have had many discussions about what they can do to persuade China to cooperate on debt relief efforts.
25 August 2022, 18:43 GMT
World Bank President David Malpass said earlier this week that the bank is supporting the idea of comprehensive debt reduction, but he expressed concerns that the international community simply does not have the mechanism which would allow it to solve the debt issue.
Malpass stressed that the composition of debt has changed significantly over the years towards China and private sector creditors.
