WASHINGTON :Germany's finance minister on Thursday welcomed a signal from China that it may drop a demand for multilateral banks to be involved in debt restructuring for poorer countries, which would remove a key roadblock to debt relief.Speaking on a visit to Washington for the International Monetary Fund an
WASHINGTON :Germany's finance minister on Thursday welcomed a signal from China that it may drop a demand for multilateral banks to be involved in debt restructuring for poorer countries, which would remove a key roadblock to debt relief.
China, which is attending the meetings in person for the first time in three years, has indicated it will drop its demand for multilateral development banks to share losses alongside other creditors in sovereign debt restructurings for poor nations, a source told Reuters."China is a difficult partner to talk to but we need China at the table for the solution of debt problems, because otherwise we won't see any progress," Lindner said.
Regarding trade relations with China, the German finance minister said that diversification was necessary to avoid risks, but not decoupling. French President Emmanuel Macron provoked a backlash in the United States and Europe when he called on the European Union to reduce dependence on the U.S.
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