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BEIJING: China has agreed to restructure debt of more than 10 countries by the end of July enabling them to focus their resources on handling the impact of COVID-19 and stabilizing economies, a Chinese Foreign Affairs Ministry’s Spokesperson said on Tuesday.
“Now we have received debt relief requests from over 20 countries, and have reached agreement with more than 10 of them by the end of July. Consultations are being held between China and other requesting countries and progress has been made in this regard,” Zhao Lijian said during his regular briefing while giving update on progress for the G20 debt standstill scheme.
He said, the Chinese side attached high importance to addressing the impact of COVID-19 on African countries and other developing countries. “We relate to their financial difficulties and support the international community in working together to relieve their debt burden, so that those countries can focus their resources on handling the virus and stabilizing their economies,” he added. The spokesperson said, since the G20’s Debt Service Suspension Initiative (DSSI) was adopted in April, China has been implementing the DSSI following the consensus of G20 countries.
