WASHINGTON -- While China Evergrande Group missed payments on bond interests for the third time in as many weeks, the International Monetary Fund said in a report Tuesday that the exposure of Chinese banks to the real estate conglomerate appears limited and that the government has the ability to contain the fallout.
With $300 billion in liabilities hanging over its head, Evergrande has until the end of next week to make good on a set of missed coupon payments before a grace period expires and it officially goes into default.
