Officials from China, India, Saudi Arabia and Group of Seven nations will participate in a first virtual meeting of a new sovereign debt roundtable on Friday, the International Monetary Fund said on Monday, confirming an earlier Reuters report. | Reuters
An IMF spokesperson confirmed the first roundtable meeting would take place on Friday, and said more details would be released in the near future.
The roundtable will include the Paris Club of official creditors and private sector participants – the Institute of International Finance , the International Capital Markets Association and two private-sector financial institutions that have asked not to be identified, one of the sources said. Officials hope to resolve China’s concerns about cutoff dates to protect new financing from debt restructuring by the end of the year, one of the sources said.
U.S. Treasury Secretary Janet Yellen and other G7 officials see China, now the world’s largest sovereign creditor, as the main stumbling block for quicker work on debt treatments. They are also pushing for agreement by G20 members on expanding the common framework to include middle-income countries.Eric LeCompte, executive director of the Jubilee USA Network, a coalition of religious, development and advocacy groups, said support for the matter was growing among other countries.
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