Economics
Hedge Funds, China Should Give More Debt Relief, World Bank Says
- G-20 debt initiative should be renewed through 2021: Malpass
- Private creditors, China need to step up efforts, Malpass says
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The Group of 20 nations should extend debt relief to the poorest nations through the end of next year, and hedge funds and China should participate more in the efforts, World Bank President David Malpass said.
The recession in the developing world with the exception of China is worse than expected, and the G-20’s Debt Service Suspension Initiative that began in May is only providing shallow relief due to the lack of full participation by the Asian nation and private creditors, Malpass said Monday in an interview on Bloomberg Television with Jonathan Ferro.