US senators seek to block IMF bailouts for China’s allies (The News)
August 13, 2018
By TheNews.com
WASHINGTON: A cross-party group of 16 US senators has urged the Trump administration to block the International Monetary Fund (IMF) from bailing out the countries that have obtained loans from China under its infrastructure development plan.
The letter to Secretary of State Michael Pompeo and Treasury Secretary Steve Mnuchin mentions Pakistan, Sri Lanka and Djibouti among the countries that have accepted billions of dollars in loans from China but are unable to repay.
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It said the Centre for Global Development has estimated that of the 68 countries currently hosting BRI funding protects, 23 are at risk of debt distress, and in eight of those countries, future BRI-related financing raises serious concerns about sovereign debt sustainability.