US should link China's power in IMF to support for debt relief- former … – Reuters

WASHINGTON, Oct 4 (Reuters) – 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 Fund’s 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 world’s largest sovereign creditor, has been a roadblock to debt relief. U.S. officials have said China is unwilli…

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