China’s finance minister, central-bank governor to attend debt roundtable in India, IMF says

Feb 5 (Reuters) – China’s finance minister and its central financial institution governor will attend a roundtable with different collectors and a few borrowing international locations in February in India, IMF Managing Director Kristalina Georgieva mentioned in a CBS’ 60 Minutes interview on Sunday.

“China has to alter its insurance policies as a result of low earnings international locations can not pay,” she mentioned.

“What we’re working in direction of is to carry all collectors, the standard collectors from superior economies, new collectors like China, Saudi Arabia, India, in addition to the personal sector, and put them across the desk with the debtor international locations.”

Georgieva mentioned final month the primary such gathering will happen on the sidelines of a gathering of Group of 20 finance officers in India.

Georgieva, the primary individual from an rising market economic system to move the Worldwide Financial Fund, has mentioned debt reduction was important for closely indebted nations to keep away from cuts in social providers and different repercussions.

“China goes to take part on the stage of minister of finance and the governor of Folks’s Financial institution of China,” she advised 60 Minutes.

Reporting by Costas Pitas in Los Angeles and David Lawder in Washington; Modifying by Christopher Cushing and Tom Hogue

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