World Bank: Low -low -income countries last years debt drama promoted China to a

(Washington Reuters) World Bank President Malpas said that the level of debt in low -income countries in 2021 has risen sharply, while China accounts for 66%of bilateral creditors loans, which highlights the necessity of reducing debt in poor countries.Essence

Malpaas interviewed last Friday (November 11) that the World Bank's upcoming international debt statistical annual report statement, the creditors of the private sector should also participate in debt reduction.

In order to cope with the challenge of the crown disease, the debt country of the G20 (G20) and the Paris Club reached an agreement on the joint framework of debt reductions at the end of 2020, but the framework was not implemented.

Malpas warned that the creditor of Chad reached the first agreement under the framework last week, but because it does not include the actual debt reduction and exemption, the country's long -term debt sustainability is questioned.

The World Bank, International Monetary Fund and Western officials are dissatisfied with the failed to speed up the pace of China and private sector lenders in the world's largest bilateral credit countries.

Preliminary data published by the World Bank June shows that the average increase in foreign debt in low -income countries increased by 6.9%to $ 9.3 trillion (about S $ 13 trillion), surpassing 5.3%in 2020.

According to Malpas, the annual report of the international debt statistical statistics of the World Bank is uneasy, but he did not disclose any specific figures. "The report shows that the amount of debt has increased significantly ... the amount owed to China accounts for approximately accounting66%of the total amount of bilateral debtors. "

He also said that Chinese entities are also large commercial creditors."The report states that debt reduction needs to be extended extensively and includes private sector and China." It is understood that the overall debt issue will become an important issue at the G20 Leadership Summit held this week.

The International Monetary Fund and the World Bank officials said that 25%of emerging markets and developing economies are in or approaching debt dilemma, and as many as 60%of the low -income countries are in or close to debt difficulties.Climate impact, rising interest rates, and inflation have exacerbated pressure from some countries.