MULTILATERALS AGAIN TAKE LEADING ROLE IN STALLED DEBT RESTRUCTURING PROCESS

   Tue, 18 April 2023

The world’s largest bilateral lender, China, has agreed to drop its demand that multilateral lenders accept losses in sovereign debt restructurings. In return, the IMF and World Bank are set to increase their lending to debt distressed countries, even if such funds are used to service Chinese loans. While a newly launched sovereign debt roundtable may enhance communications between stakeholders in debt restructurings, there is no prospect that Common Framework applications in Africa will be accelerated.

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