Chinas finance minister and its reserve bank guv will participate in a roundtable with other financial institutions and some borrowing nations in February in India, IMF Managing Director Kristalina Georgieva said in a CBS 60 Minutes interview on Sunday.
China needs to alter its policies because low earnings countries can not pay, she said.
What we are working towards is to bring all lenders, the traditional creditors from innovative economies, new creditors like China, Saudi Arabia, India, as well as the private sector, and put them around the table with the debtor nations.
Georgieva stated last month the very first such event will occur on the sidelines of a conference of Group of 20 finance officials in India.Georgieva, the very first person from an emerging market economy to head the International Monetary Fund, has actually said debt relief was vital for heavily indebted nations to avoid cuts in social services and other effects.
China is going to participate at the level of minister of finance and the governor of Peoples Bank of China, she informed 60 Minutes.Source: Reuters-- Agencies