China Floats Private Creditors Role in Early Debt Rework Talks
- China official made the suggestion in Paris Forum last week
- Multi-stage process delays debt relief for developing nations
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China has proposed that private creditors take part in the early stages of debt restructuring talks for developing economies to speed up complex negotiations that are often mired in disagreements.
China’s Vice Finance Minister Liao Min made the suggestion during an annual event organized by the group of bilateral creditors under the Paris Club, according to people who participated in the so-called Paris Forum held in the French capital last week.