India calls on China to take losses on loans in poor-nation debt rework

India called on China to be willing to take losses on loans to struggling economies, and asked the world’s biggest bilateral creditor to developing countries to avoid taking positions that would block relief for nations such as Zambia and Sri Lanka.  
 

“China needs to come out openly and say what their debt is and how to settle it,” said Amitabh Kant, the sherpa for India during its presidency of the Group of 20 forum of the world’s biggest economies this year. “It can’t be that the International Monetary Fund takes a haircut and it goes to settle Chinese debt. How