China will work with G20 for equitable debt restructuring

10 December 2022 06:58 am Views - 1707

• Will continue to strengthen macro-policy coordination with all parties, including IMF 
• Li says China has kept a sound cooperative relationship with the IMF for many years

Chinese Prime Minister Li Keqiang said China will implement the G20’s Debt Service Suspension Initiative in all respects and added that China will work with relevant G20 members to formulate and participate in a fair and equitable debt-restructuring plan, according to the Chinese Embassy in Colombo.   

Chinese Premier Li on Thursday met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva in Huangshan City, Anhui Province, pledging to strengthen macro-policy coordination.  

The embassy shared this news with the local press at a time Sri Lanka is seeking debt restructuring as part of its arrangement with the IMF.   Noting that China has been a participant in, upholder of and contributor to global economic governance, Li said China has kept a sound cooperative relationship with the IMF for many years.   He said China will continue to strengthen macro-policy coordination with all parties, including the IMF, to tackle debt, climate change and other global challenges, and make greater contributions to promoting global economic recovery and sustainable development.