U.S. to Urge China to Fully Participate in Global Debt Relief Initiative

U.S. Treasury officials have said that they will urge China to actively participate in global debt relief efforts.

U.S. Treasury Deputy Secretary Brent McIntosh said in a video interview on Friday that sustained policy support is necessary to allow the global economy to recover from the neo-crowning epidemic, according to Reuters. He claimed that he would call on countries to maintain bailout measures during the annual meetings of the International Monetary Fund (IMF) and the World Bank next week; he also stressed that China would “fully, faithfully and transparently comply” with the G-20’s plan to freeze bilateral debt of the poorest countries, which began earlier this year. Provisions for repayment.

A week ago, the G-7 said that China was not sufficiently involved in delaying debt relief for developing countries. China’s total official debt does not take into account loans from entities such as the China Development Bank, which is actually controlled by the government, and does not postpone relief on that debt.

The G7 warned at the time that China would face increasing pressure for debt relief.