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The fund will freeze out China if that is what it takes to offer relief | Finance & economics

(Bloomberg) -- The world’s largest creditors should take coordinated and decisive action to address the “generational challenge” of poorer nations struggling with unmanageable debt burdens, a top US Treasury official said, aiming specific criticism at China, the biggest lender to emerging markets. Most Read from BloombergUS Sees Imminent Missile Strike on Israel by Iran, ProxiesVietnam Tycoon Lan Sentenced to Death Over $12 Billion FraudUS Slams Strikes on Russia Oil Refiner...

(Bloomberg) -- The world’s largest creditors should take coordinated and decisive action to address the “generational challenge” of poorer nations struggling with unmanageable debt burdens, a top US Treasury official said, aiming specific criticism at China, the biggest lender to emerging markets. Most Read from BloombergIsrael Bracing for Unprecedented Direct Iran Attack in DaysApple Plans to Overhaul Entire Mac Line With AI-Focused M4 ChipsRussian Attacks on Ukraine Stoke ...

A blog by Ruth Kattumuri, Mac Banda and Richard Ough from the Economic, Youth & Sustainable Development Directorate of the Commonwealth Secretariat.

One of the most serious challenges facing the global economy today is the impending sovereign debt crisis in many middle- and low-income countries. The fiscal outlook in some of these countries appeared dire even before interest rates started climbing and spending related to COVID-19 caused debts to soar. Several economies face growing debt service payments at a time when capital is flowing out from the developing world. These pressures are bearing down on more countries and involve a larger amo...

Some low-income countries have made progress on disclosing their debts: the latest Debt Reporting Heat Map shows a rise in disclosure from 60 percent in 2021 to 80 percent today. But other countries have regressed, and significant gaps and weaknesses remain.

Also, the DSSI is temporary and not a targeted instrument, and many private creditors have declined to participate in this initiative.

Zambia's deal with bondholders this week suggests it will finally emerge from more than three years in default -- and become the first successful restructuring under the debt-rework architecture designed by the G20. The African nation's President Hakainde Hichilema posted on X that "history has been made," while International Monetary Fund (IMF) President Kristalina Georgieva lauded the "important achievement." Global leaders hope that Ghana may soon reach its own...

By Libby George LONDON (Reuters) - Zambia's deal with bondholders this week suggests it will finally emerge from more than three years in default -- and become the first successful restructuring under the debt-rework architecture designed by the G2...

Latest news, analysis and opinions from the Daily FT, Sri Lankas only national business newspaper. ..