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International relations

China drags feet as G-20 presses for debt transparency

Top creditor's reticence over disclosures stalls relief plan for poor countries

A man receives the AstraZeneca-Oxford coronavirus vaccine under the COVAX scheme in Addis Ababa, Ethiopia, on March 13.   © Reuters

VIENNA/NEW YORK/TOKYO -- Top economic officials from the Group of 20 major economies on Wednesday discussed debt relief for low-income countries struggling with their vaccination campaigns, but advanced nations failed to bridge the gap with top creditor China, which has resisted disclosing details of loans.

The virtual meeting of finance ministers and central bankers addressed ways of providing financial support, covering such topics as potentially extending a suspension of bilateral debt service payments through the end of 2021. Officials previously agreed in November on a joint framework for debt restructuring and forgiveness.

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