China under global pressure to offer relief in debt repayment to coronavirus-hit poor countries: Reports

China, the world’s largest creditor, is increasingly coming under pressure to cancel its huge debt to coronavirus-hit poor countries under the Group of 20 Debt Service Suspension Initiative (DSSI), according to a media report. World Bank President David Malpass on Monday called on China to cancel debt to coronavirus-hit poor countries, blaming Beijing’s well capitalised official lenders of not fully participating in the DSSI. An added factor in the current wave of debt is the rapid growth of new official lenders, especially several of China’s well-capitalised creditors,” Malpass said, addressing an online event hosted by the Frankfurt School of Finance…