Chinese Finance Minister Liu Kun attends a news conference on China's economic development ahead of the 70th anniversary of its founding, in Beijing on Sept. 24, 2019.China on Thursday urged the World Bank to allow its poorest borrowers to suspend debt payments while they deal with the coronavirus pandemic, saying the world’s biggest multilateral development bank should “lead by example.”
Liu said debt service suspension by the World Bank Group’s International Development Association arm would be “net present value-neutral” and would not hurt its credit rating.If the World Bank Group “fails to participate in collective actions for suspending debt service payments, its role as a global leader in multilateral development will be seriously weakened, and the effectiveness of the initiative will be undermined,” Liu said.
“As a responsible bilateral creditor, China will actively engage in bilateral consultations with borrowing countries to put into effect the arrangements for the suspension of debt service payments reached by the G20 through consensus,” Liu said. “Suspending repayments to MDBs, if not fully compensated by new shareholder contributions, would run the risk of hurting the poor in both the short-term, by reducing our ability to front-load assistance, and in the long-term, by reducing our leveraging capacity,” Malpass said in a statement.
That's rich coming from a now-poor superpower like China. They don't want to pay the debt now that they're sued for trillions of dollars of both social and economic damages around the world.
Italy and Iran should be made to pay. They spread the virus outside of China.
China should be sure by said countries. Actually ALL countries.
Trying to garner goodwill in their African 'colonies' after their racist attacks against blacks in China.
dur durr derp Chineese playing the good guy good one
Why doesn’t China pay the interest? How did the virus leak to the world from Wuhan is the big question?
Is this CCP propaganda? Cause it sure looks like now. Garbage.