Expect Beijing to fulfill its G20 commitments to offer bilateral debt relief to low-income countries: Alice Wells

A senior US diplomat On Wednesday said that US expects China to fulfil its G20 commitments to offer bilateral debt relief for low-income countries.

A senior US diplomat On Wednesday said that US expects China to fulfil its G20 commitments to offer bilateral debt relief for low-income countries. "Several SCA countries facing serious financial stress are heavily indebted to China. We expect Beijing to fulfill its G20 commitments to offer bilateral debt relief for low-income countries, as the world starts focusing on economic recovery from the pandemic," Principal Deputy Assistant Secretary (PDAS) Alice Wells said.

In the wake of coronavirus pandemic, International Monetary Fund's (IMF) Executive Board had last month approved immediate debt service relief to 25 poor countries. Kristalina Georgieva, Managing Director of IMF, had said that the Executive Board had approved immediate debt service relief to 25 of the IMF's member countries under its revamped Catastrophe Containment and Relief Trust (CCRT) as part of response to help address the impact of the COVID-19 pandemic. (ANI)