I N ONE OF his final acts of global engagement, Pope Francis convened a Jubilee Commission of experts—including ourselves and ...

The support afforded poor countries breathing room during the pandemic. That initiative ended in December 2021, succeeded by a program called the Common Framework, which brings G-20 governments ...

As debt has grown, its composition has also rapidly changed. These countries have become increasingly indebted to private creditors, especially bondholders. At the end of 2021, 61 percent of the $ ...

Central to the issue is China’s relationship with the Paris Club of 22 mostly Western creditor countries. It is an “ad hoc participant” in the group but has refused invitations to join.

Four out of ten people in the world live in a country that spends more money servicing the interest on its sovereign debts than it does on education or health care. Such figures may feel abstract to ...

But, by 2021, there were at least 57 countries with outstanding debt to Chinese state-owned creditors that were in financial distress, its data shows. This appears to be a factor changing how ...

Some may yet confront major tests. When countries do falter on debt, restructuring is critical to containing the damage. Restructuring should be as quick as possible because delays deepen distress by ...

And when they go to climate or biodiversity conferences, there’s little financing offered, with creditor countries saying they have to prioritize austerity at home. Many low- and middle-income ...

But China, Sri Lanka’s largest single creditor, offered a tempting alternative: Skip the IMF’s bitter medicine for now and just keep adding on new debt to pay off the old, according to current ...

A group of Country Garden Holdings Co.’s creditors has appointed financial and legal advisers, paving the way for more debt talks in what could be one of China’s largest-ever offshore ...

HONG KONG -- Ever Credit, an offshore creditor of Country Garden Holdings, has filed a petition to wind up the Chinese property developer, a move indicative of the ongoing property crisis in China.

The results of the vote came after Country Garden on August 31 got the green light from 56.08 per cent of participating creditors to extend an onshore bond worth 3.9 billion yuan – the largest ...