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White House official knocks China's 'opaque' lending practices globally

Thursday, July 1, 2021
White House official knocks China's 'opaque' lending practices globally

WASHINGTON (Reuters) - The G20 major economies should revitalize their freeze in official bilateral debt payments by the poorest countries to include middle income countries and expand the participation of China and the private sector, a top White House official said.

Daleep Singh, the U.S. sherpa for the G7 and G20, told an event hosted by the Center for Strategic and International Studies, that China was by far the largest official bilateral creditor, and it should step up its participation in the G20's Debt Service Suspension Initiative.

"A lot of China's lending activity is highly opaque, and it self-classifies much of the lending as commercially driven, even though it's very clearly directed by the government," he said.

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01-05-2024 10:45:17 (UTC+7)

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 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
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 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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