(ECNS) -- Properly addressing debt issue matters to global economic recovery and financial stability, Chinese Foreign Minister spokesperson Wang Wenbin said at a news briefing on Friday.
Wang made the remarks when asked whether China will drop its demand that multilateral lenders share in debt restructuring losses and will offer refinancing assurances to states currently trying to use the common framework to access new IMF loans.
China attaches high importance to the sovereign debt issue of developing countries, Wang said. "We always believe that to effectively resolve the debt issue, the key lies in joint participation of multilateral, bilateral and commercial creditors in debt treatment under the principles of joint actions and fair burden-sharing."
He said China put forward a three-point proposal at the Global Sovereign Debt Roundtable (GSDR) recently.
First, multilateral creditors need to come up with solutions on their participation in debt treatment as soon as possible;second, the IMF needs to take actions in information-sharing on debt sustainability assessments as soon as possible; third, parties concerned need to agree on the specific ways for creditors to participate on comparable terms as soon as possible.
We hope parties concerned will take credible steps to implement the G20 Common Framework and seek an effective, systemic and comprehensive solution to the debt issue, he added.
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