WASHINGTON — China is willing to work on a bilateral basis with low-income countries facing economic challenges due to the coronavirus pandemic and may approve delays in some debt service payments, a Chinese official told Reuters on Tuesday. The official said China, a major creditor, was still considering a push by the International Monetary Fund and the World Bank for it and other official bilateral lenders to immediately suspend debt payments from the poorest countries. "Developing countries, especially low-income countries, are facing greater challenges. We are willing to maintain communication with relevant countries through bilateral channels," said the official, who was not authorized to speak publicly. "We agree that some countries should not be forced to make payments during the crisis."

Source: International New York Times April 07, 2020 18:33 UTC