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Yellen optimistic about China's agreement on partial debt restructuring

By Andrea Shalal and David Lawder

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Tuesday that she is optimistic that China will fight poorer countries over the course of 2019. Certain technical aspects of debt restructuring were agreed. First official meeting of the Creditor and Debtor Sovereign Debt Roundtable.

“I’m encouraged by China’s willingness to provide concrete assurances on Sri Lanka. I think it’s a positive signing,” Yellen told a news conference at the start of the IMF and World Bank spring meetings explain.

Yellen said China would actively participate in a meeting on the sidelines of Wednesday’s meeting in Washington, adding that she would continue to press Beijing to help improve

A common framework established by countries to provide debt relief.

The Sovereign Debt Roundtable discussed a number of technical issues that I believe relate to some of the important elements of debt restructuring,” she said. Hope to make more progress. “

Current Chairman of IMF, World Bank and India G , co-chairs Global Sovereign Debt Roundtable with the goal of accelerating relief for countries in need The co-chairs are expected to issue a statement after Wednesday’s meeting.

The first limited meeting, a meeting of delegates was held on April 3 amid continued delays in finalizing the debt-handling agreement of Zambia, Ghana and Ethiopia.

World’s largest bilateral creditors, private sector creditors reluctant to join, But hope some fundamental issues are resolved at the roundtable.

Ghana, Zambia and Ethiopia are at different stages of the process, but debt experts say China agrees to Financing guarantees from Sri Lanka may provide fresh impetus to advance these individual cases.

The roundtable included officials from G countries, from countries that requested to be Officials of countries dealing with debt under the Group’s common framework – Ethiopia, Zambia and Ghana; middle-income countries and private sector creditors such as Sri Lanka, Suriname and Ecuador facing their own debt crises.



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