U.S. Treasury Secretary Janet Yellen again expressed cautious optimism that China will be willing to enter into a multilateral debt restructuring deal with Zambia.
The potential agreement is seen as a crucial test case for efforts to help developing countries find relief from sometimes crushing external debt.
“Our counterparts are sophisticated economics officials who can listen to a reasoned argument and understand it,” Yellen told reporters in Dakar, Senegal, on Saturday. “I definitely think they get what the problem is, and that there needs to be a solution.”
