Johannesburg, South Africa Long-running tensions between the major international lenders and China were aired at a meeting in China’s Anhui province, where participants sought agreement on a way forward for some of the world’s most indebted countries, many of them in Africa. Representatives of the International Monetary Fund, World Bank, and Beijing’s finance ministry participated in the meeting to discuss debt restructuring for low-income countries — 60% of which the IMF says are at or near debt distress. 온라인바카라
The relationship between the IMF and China — the world’s largest bilateral creditor — has not been an easy one, Harry Verhoeven, a senior research scholar at Columbia University, told VOA. “The Fund has in recent years come under great pressure from its most important shareholders — the U.S. And European countries — to be much tougher on China and debt — and to help identify ways that either expose China as driving the build-up of unsustainable levels of indebtedness in African states” or that force China to cancel some of the debts owed to Beijing, he said. 안전놀이터
“Yet on the other hand, the Fund also suffers from a crisis of legitimacy related to its perceived prioritizing of Western interests and concerns,” he added. “A growing number of developing countries in recent years/decades have sought to turn away from the Fund and deeply distrust its advice and conditionalities.” What African countries hoped for as the outcome of this meeting, analysts said, was a combination of debt restructuring and forgiveness — as well as more predictability and reassurances that fresh capital will still be available to them. 토토사이트
“A large number of African countries’ balance sheets are shot to bits and these countries are technically insolvent,” said Kenya-based economist Aly-Khan Satchu. The press releases from both Beijing and the IMF after the meeting struck an optimistic tone. IMF chief Kristalina Georgieva said she had a “fruitful exchange” with her Chinese counterparts on how to accelerate debt relief to prevent “triggering a global debt crisis.” 포커
Georgieva said China could “play an active role” in helping speed up the Common Framework, a plan by the G-20 announced two years ago to help countries buckling under debt by getting private creditors to participate and share the burden fairly. So far, only Ethiopia, Chad and Zambia have made requests for debt relief under the Common Framework.