Beijing, The Indonesia Post – The Chinese government claims to be the largest country among the G20 members to suspend debt payments for poor countries.
“We have repeatedly emphasized. In accordance with the G20 consensus, China has fully implemented the Debt Service Suspension Initiative,” Chinese Foreign Ministry spokesman Wang Wenbin said in Beijing on Thursday.
In addition, he continued, China’s unofficial financial institutions have also suspended debt payments in accordance with the G20 provisions on the Debt Service Suspension Initiative (DSSI).
What China is doing is rarely done by other G20 countries, Wang said without mentioning the face value of the suspended debt.
He felt the need to convey this in response to the statement of the United States Secretary of the Treasury Janet Yellen who hoped for concrete action from China in implementing the G20 DSSI.
“Together with other G20 member countries, China is also handling the debt case by case of several countries according to a common framework,” Wang added.
According to him, the steps taken by China have provided a positive note in easing the debt burden of several countries. (mhn/bbs)
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