China has means to address Evergrande default: IMF official

Beijing equipped with tools to prevent financial crisis, says Tobias Adrian

Chinese authorities have the means to address a crisis from China Evergrande Group, says Tobias Adrian of the International Monetary Fund. © Reuters

MASAHIRO OKOSHI, Nikkei staff writer

October 13, 2021 10:33 JST

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.