China’s Response Not Encouraging on G20 Frequent Framework for Debt – Supply

GANDHINAGAR, India (Reuters) – China has not given an encouraging response thus far on reaching a standard understanding with the G20 bloc on the difficulty of restructuring the debt of weak nations, a supply conscious of the matter mentioned on Sunday.

G20 nations are additionally not eager on a one-size-fits-all rule to restructure such nations’ debt, the supply mentioned on situation of anonymity.

Monetary leaders from the Group of 20 main economies are assembly in India’s Gandhinagar over the following two days to debate, amongst different issues, the debt remedy of nations underneath the so-called Frequent Framework – a G20 initiative to assist poor nations delay their debt repayments.

Final month, Zambia struck a deal to restructure $6.3 billion in debt owed to governments overseas together with China, in what was seen as a breakthrough for weak nations in disaster.

(Reporting by Aftab Ahmed; Writing by Shivam Patel; Enhancing by Hugh Lawson)

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