Debt Transparency in Developing Countries
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Please join CSIS for this event discussing the need for debt transparency solutions in developing countries.
China’s rise as a creditor, its use of state-owned enterprises, and secrecy regarding its lending agreements have made today’s debt less transparent. Skepticism of the Chinese development finance model has compounded as nine countries are currently classified by the IMF as “in debt distress.” At least seven– Congo (Brazzaville), Grenada, Malawi, Mozambique, Sudan, Zambia, and Zimbabwe– have faced significant trouble with Chinese debt.
Proposed solutions from the international community in response to these debt crises have thus far been ineffective. For example, the G20’s Common Framework for Debt Treatment was intended to prevent default by providing relief based on the debtor’s ability to repay, but the first countries requesting debt assistance have faced a burdensome process.
This event was made possible through the generous support of DevTech Systems, Inc.
- Paula Reynal
- Research Assistant, Project on Prosperity and Development