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rdf:type	schema:NewsArticle
schema:articleBody	US Treasury Secretary Janet Yellen said Tuesday she was concerned that Chinese lenders could benefit from an international debt relief initiative aimed at poor countries. In April, G20 countries including the United States agreed to extend until December a moratorium on debt interest payments for the poorest nations, amid fears they will lag behind in the global recovery from the coronavirus pandemic. Chinese financial institutions are among the top lenders to lower-income countries, and Yellen told a House Appropriations subcommittee that she aims to ensure the relief -- meant to help poor countries spend to revitalize their economies after the pandemic -- doesn't end up in China's hands. "We have spoken with China about their participation. They have promised to participate as equal partners in these debt frameworks," she told lawmakers. "We would be very concerned to see the resources that are provided to these countries used to repay Chinese debt. That would defeat the purpose of the programs." In prepared remarks before the committee, Yellen also encouraged the US Congress to allocate money to the debt relief measure, which is being implemented by the IMF and World Bank. Of the 73 countries eligible for debt relief, 47 have asked to participate in the program, and are expected to save $7.3 billion in debt payments between the start of the year and June 30, according to the World Bank. cs/ch
schema:headline	Yellen says 'concerned' debt relief could aid Chinese lenders
schema:mentions	United States Secretary of the Treasury Debt relief International Monetary Fund World Bank G20 United States Congress Pandemic United States China Coronavirus Janet Yellen Hoover Moratorium
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-06-10 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	76 (xsd:integer)

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