Central Banks Gov, China’s FM To Attend Debt Roundtable In India: IMF Chief

International Monetary Fund (IMF) Managing Director Kristalina Georgieva said during CBS 60 Minutes interview on Sunday that China's finance minister and central bank governor will attend a roundtable with other creditors and some borrowing countries in February in India

“China's policies must change because low-income countries cannot pay,” Georgieva said.

“What we are working on is bringing all creditors, traditional creditors from advanced economies, new creditors like China, Saudi Arabia, India and the private sector, as well as the debtor countries, around the table,” she said. 

Georgieva stated last month that the first such meeting will take place in India on the sidelines of a meeting of a Group of 20 finance officials.

Georgieva, the first person from an emerging market economy to lead the International Monetary Fund, has stated that debt relief is critical for heavily indebted countries in order to avoid cuts in social services and other consequences.

“China will participate at the level of finance minister and People's Bank of China governor,” she said on the TV programme.