President of the International Monetary Fund (IMF) said that in the face of unable to pay debt, China is transforming its idea of participating in debt restructuring.
According to Bloomberg, Georkiyeva, who participated in the Global Conference of the Milken Research Institute in Belle Villa, California, said in an interview on May 1, local time in local time in the local time that as the largest loan party in the development of the economyChina has joined the ranks of the traditional Western creditors of the Paris Club, and realized that it is necessary to establish a better debt restructuring mechanism.
Georkeva said that because of the lack of coordination between different government agencies and entities in history, one of the biggest challenges in China is to understand the scope of its own loan.She said that although China has long refused to provide relief on the grounds of developing countries, this idea is beginning to change.
"Why? The reason is simple," said the IMF president, "Because they are being injured. Nothing is more than a country saying 'sorry, I can't get your money' 'to make you more eager to understand debt reorganization."
Geolkeva said:" My point is, we must drag them -maybe this is impolite -we need to go together. Because if we don't do this, there are many, many, manyThe country will face disasters. "
More than 70 low -income countries face a total debt burden of 326 billion US dollars (about $ 435.6 billion), more than half of which have fallen into debt dilemma, including Zambia, Ethiopian, Ethiopian,And Ghana.Golkaya said that China is the largest creditors in many cases, including Zambia, and about 75%of the debtors of Zambia needed to reorganize their debtors in China.
