China, the world's largest bilateral creditor, urged G20 nations on Friday to conduct a fair, objective and in-depth analysis of the causes of global debt issues and to 'resolve the problem in a comprehensive and effective manner.'
Officials from the IMF, the World Bank and G7 nations will meet on Saturday on the sidelines of the G20 meeting for the first in-person discussions of the new IMF Global Sovereign Debt Roundtable.
China's role in the G20 Common Framework, however, is expected to feature in Saturday's talks. The Common Framework was Officials from Ghana and Zambia are waiting on assurances from China that it would be willing to offer debt-restructuring support, as such assurance is a prerequisite to use the Common Framework to receive further assistance from the IMF.
Classified as a middle-income country and as such ineligible for the the Common Framework, Sri Lanka is still seeking similar assurances from China, though Bloomberg has reported that the IMF is considering approving a loan to support the island nation regardless of what China decides.
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