China Eases Debt-Relief Stance in Hint of Progress in Talks
- Global debt roundtable meeting underway in Washington
- Talks stuck over how to treat loans from multilateral lenders
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China is softening its stance over how to restructure billions of dollars of debt held by poor nations, offering a glimmer of progress in long-stalled talks over unlocking desperately needed aid.
Discussions under way Wednesday in Washington during the World Bank and International Monetary Fund’s Spring Meetings were aimed at ending a deadlock among the biggest creditor nations on how to renegotiate poorer nations’ debt, which had become unsustainable amid surging inflation and a stronger dollar.