WASHINGTON: According to a top White House official, the G20 big economies should revive its block on official bilateral debt payments by the poorest nations to include middle-income countries and extend participation of China and the private sector. China was by far the largest official bilateral creditor, according to Daleep Singh, the US sherpa for the G7 and G20, who told an event held by the Center for Strategic and International Studies that China should speed up its participation in the G20’s Debt Service Suspension Initiative.
“A lot of China’s loan activity is quite opaque, and it self-classifies much of it as commercially driven, despite the fact that it’s plainly directed by the government,” he said.
(Andrea Shalal contributed reporting.)
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