{"id":1913579,"date":"2023-04-12T09:42:02","date_gmt":"2023-04-12T13:42:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-to-drop-demand-for-development-bank-debt-restructuring-losses-source\/"},"modified":"2023-04-12T09:42:54","modified_gmt":"2023-04-12T13:42:54","slug":"china-to-drop-demand-for-development-bank-debt-restructuring-losses-source","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-to-drop-demand-for-development-bank-debt-restructuring-losses-source\/","title":{"rendered":"China to drop demand for development bank debt restructuring losses -source"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchina-to-drop-demand-for-development-bank-debt-restructuring-losses-source%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1913579&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>\n<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<p>China is expected to give up on their demand of multilateral development banks to share losses alongside other creditors for sovereign debt restructurings in poor countries. A confidential source states that this move will remove a significant obstacle to providing debt relief.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">\n        <script> googletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); }); <\/script>\n    <\/div>\n<p>The news of this breakthrough on debt restructuring is expected to be confirmed at a roundtable on the issue of sovereign debt on April 7, which is taking place on the sidelines of the World Bank and International Monetary Fund Spring meetings in Washington.<\/p>\n<p>The source adds that Beijing would no longer demand that multilateral lenders take \u201chaircuts\u201d on loans allocated to poor countries. Meanwhile, the International Monetary Fund (IMF) and World Bank have agreed to make their debt sustainability analyses of nations undergoing debt restructurings available to Chinese authorities earlier in the process. <\/p>\n<p>At a Bretton Woods Committee event, IMF Managing Director Kristalina Georgieva reflected positivity about a potential agreement, stating that \u201cI\u2019m so far optimistic. I hope to remain optimistic after tomorrow when we are meeting\u201d. She confirmed that a meeting on April 3 between deputies leading up to the roundtable had gone well.<\/p>\n<p>Furthermore, U.S. Treasury Secretary Janet Yellen had at the start of the meetings expressed encouragement over China\u2019s willingness to provide assurances about certain technical aspects of debt restructuring for distressed countries.<\/p>\n<p>The potential agreement is significant for emerging nations grappling with debt, as it could quicken and streamline the process of restructuring, through the exemption of multilateral development banks. Access to debt sustainability information is also significant for China, as it gives them more influence and power over determining what the debt restructuring ends up looking like. <\/p>\n<p>China will be present at the roundtable in Washington on April 7. Yellen stated that she would continue to urge Beijing to improve the Group of 20 Common Framework, which was designed to offer debt relief for low-income countries. <\/p>\n<p>The IMF, World Bank and India, current president of the G20, are co-chairing the Global Sovereign Debt Roundtable, with its co-chairs expected to give a statement at the conclusion of the meeting.<\/p>\n<p>It is likely that a significant amount of time will be spent discussing debt restructurings of Zambia, Ghana, and Ethiopia, which have yet to be finalized due to what U.S. officials and others hazard is China\u2019s inertia as the largest bilateral creditor, and the lack of enthusiasm for the initiative from private-sector creditors. <\/p>\n<p>(Reporting by David Lawder and Andrea Shalal. Additional reporting by Libby George in London. Editing by Paul Simao, Lisa Shumaker, Anna Driver and Alexander Smith)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/business\/china-to-drop-demand\/attachment\/u-s-treasury-secretary-yellen-news-conference-in-washington\/\"><\/a><\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>While President Biden and his Administration are silent amid what many are calling the Biggest US Intelligence Leak in a Decade, the machines may be in the process of overthrowing humanity, as a chatbot expresses its desire for nuclear weapons.<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>Artificial intelligence continues to appear in headlines around the world.<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>The 45th President of the United States, Donald Trump, is expected to return to New York City on Thursday.<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>China\u2019s Vice President Han Zheng has called on Intel\u2019s CEO to remain in China to help maintain the country\u2019s stability.<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>America&#8217;s cybersecurity watchdog has no confidence in the cellular network used by American first responders.<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>The second-largest cryptocurrency, ethereal, is scheduled for a software upgrade.<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>Elon Musk has stated that he does not know what occurred when Twitter took down content related to cryptocurrency scams.<\/p>\n<\/div>\n<p><\/body><\/html><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Andrea Shalal and David Lawder WASHINGTON (Reuters) -China is expected to drop its demand for multilateral development banks to share losses alongside other creditors in sovereign debt restructurings for poor nations, removing a major roadblock to debt relief, a source familiar with the plans said. The development is expected at a high-level sovereign debt<\/p>\n","protected":false},"author":66,"featured_media":1913580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[5373,4501,5487,4368,6273,5053,4342,23960,9993],"class_list":["post-1913579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-bank","tag-china","tag-debt","tag-demand","tag-development","tag-drop","tag-losses","tag-restructuring","tag-source"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1913579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1913579"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1913579\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1913580"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1913579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1913579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1913579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}