China Calls for ‘Fair Burden Sharing’ to Address Poor Countries’ Sovereign Debt Issues

People’s Bank of China (PBOC) Governor Yi Gang has called for collective action and “fair burden sharing” to address the sovereign debt issues of developing countries.

Yi’s remarks come as many developing countries have been seeking relief in recent years, especially after their debt burdens grew during the Covid-19 pandemic. He made the statement Friday during the World Bank and the International Monetary Fund’s (IMF) spring meetings.