IMF to Press China on Emerging-Market Debt Help as Worry Mounts
(Bloomberg) — The head of the International Monetary Fund (IMF) will press China, the world’s biggest creditor to developing countries, to accelerate finding solutions to a mounting debt crisis in poorer nations when she visits Beijing next week.
“We do not have the luxury of many years to come to a resolution because we are faced with a very significant and widespread debt problem,” Managing Director Kristalina Georgieva said Thursday at an event hosted by Reuters. “We are very keen to see China — one of the largest, actually the largest bilateral creditor — take the responsibility of figuring out how we can accelerate that resolution.”
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