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G-7 Urges China to ‘Contribute Constructively’ on Debt Workouts

  • China named in G-7 finance ministers’ communique Friday
  • Beijing has become top official lender to developing nations
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Group of Seven finance ministers called out China in a statement that urged creditor countries to help developing nations struggling with debt.

“It remains essential that all relevant creditor countries including non-Paris Club countries, such as those, like China, with large outstanding claims on low-income countries facing debt-sustainability challenges, contribute constructively to the necessary debt treatments,” officials said in a communique Friday following two days of meetings near Bonn, Germany.