Malpass also said he was concerned about the build-up of debt in advanced economies such as the United States, as it draws more capital from developing countries.
“And so as interest rates rise, debt service for advanced economies tends to rise, and that requires a larger amount of capital from the world.”
china meeting
Malpass said he would attend a meeting in China next week with heads of other international institutions and Chinese officials to discuss debt relief for poor countries, COVID-19 policies, asset sector turmoil and other economic issues. approach will be discussed.
“One of China’s big creditors, so … it’s very important that China engages on this issue and thinks about where it sees the world going and what it takes for countries to achieve stability.” should be done, should be held accountable for it.”
IMF chief Kristalina Georgieva will also attend the meeting, which will focus heavily on debt treatment. Among the participants will be officials from the China Development Bank and the Export-Import Bank of China, the country’s two major bilateral lenders.