The U.S. should demand that China support debt restructuring for struggling poor and middle-income countries as a condition of changes to the International Monetary Funds shareholding formula, a former senior U.S. Treasury development expert said on Wednesday.
Nancy Lee, a former deputy assistant Treasury secretary who works at the Center for Global Development think tank, told reporters it was reasonable to insist that any country getting a bigger quota, or shareholding, in the IMF should also help countries return to sustainable debt.
U.S. Treasury Secretary Janet Yellen has said China, the worlds largest sovereign creditor, has been a roadblock to debt relief. U.S. officials have said China is unwilling to accept losses on loans unles…
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