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IMF chief: China is responsible for debts of emerging economies

International Monetary Fund (IMF) Chief Kristalina Georgieva is holding China and other major creditors accountable for the growing debt problems of emerging markets and low-income countries. “My message to the large creditors, to China, the private sectors … the larger your share is, the bigger your responsibility,” Georgieva said at an event on Tuesday hosted by the Center for Global Development. A quarter of emerging markets and 60 percent of low-income countries are on the verge of a debt problem or have already fallen into one, she said, adding, “It is in your interest as creditors to prevent a problem from exploding.”

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