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China Says Debt Payments Paused for 77 Nations After G-20 Deal

Hong Kong Dollar, Chinese Yuan and US Dollar Banknotes As Currency Peg Intervention From HKMA Continues Into Third Day
Photographer: Paul Yeung/Bloomberg

The Chinese government said it has agreed to delay debt repayments for low-income countries, as part of the Group of 20 nations debt relief program.

The country has suspended debt repayments from 77 developing countries and regions, Ma Zhaoxu, Vice Minister of Foreign Affairs, said at a State Council briefing Sunday in Beijing. In April, the G-20 agreed to provide temporary debt relief to the world’s poorest nations, with the moratorium starting May 1.