IMF Changes Rules to Speed Debt Revamps, Avoid China Delays
- Move aims to cut time to winning final approval to two months
- China has been widely blamed in the past for delaying process
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The International Monetary Fund has changed its process for supporting countries struggling with debt restructurings, a move aimed at avoiding recent delays widely blamed on China.
The IMF executive board on April 9 approved reforms in policy areas “which should ensure a smoother and speedier process in the future,” the fund said in a statement Tuesday.