PBOC Deputy Governor Xuan Changneng Attends Global Sovereign Debt Roundtable and Other Meetings, Meets with Heads of Relevant Institutions

36Kr has learned from the central bank that during the IMF-World Bank Annual Meetings in Bangkok, Thailand, from October 14 to 17, 2026, People's Bank of China Deputy Governor Xuan Changneng attended the Global Sovereign Debt Roundtable, the International Monetary and Financial Committee (IMFC) briefing on the economic situation, and the annual meeting of the Institute of International Finance's Advisory Committee, among other gatherings. Xuan said that recent increases in global risk-free interest rates have raised financing costs for developing countries and further strained their debt-servicing burdens. Parties should strengthen multilateral cooperation, adhere to the principles of "collective action and fair burden-sharing," and explore effective mechanisms for private-sector creditors to participate in debt restructuring on a comparable basis. All parties should continue to advance the improvement of the global sovereign debt governance framework, refine the IMF and World Bank's debt sustainability analysis framework for low-income countries, appropriately define the scope of public debt, and enhance information sharing with creditors. The global economy and international financial system currently face numerous challenges. China will firmly implement its strategy to expand domestic demand, systematically advance investment in new infrastructure such as the "six networks," integrate investment in material goods with investment in people, and promote high-quality, efficient development of the services sector.