China rebukes US for its brinkmanship over ‘catastrophic’ de...| MENAFN.COM

Wednesday, 08 February 2023 01:29 GMT

China rebukes US for its brinkmanship over ‘catastrophic’ debt


(MENAFN) As Washington approaches this week's statutory debt ceiling, which may result in the United States defaulting on its debts, China has chastised the United States for its brinksmanship on the nation’s "catastrophic debt problem."

Following a reprimand from United States Treasury Secretary Janet Yellen for suspected Beijing mishandling of a debt situation in the southern African nation, the Chinese embassy in Zambia's capital Lusaka voiced dissatisfaction.

Yellen declared that restructuring Zambia's debt was of utmost importance on Monday while on a visit to the nation. She attributed the inability to resolve the issue on China, the major creditor of the African state.

The Chinese Embassy in Zambia responded on Tuesday by claiming: “The biggest contribution that the US can make to the debt issues outside the country is to act on responsible monetary policies, cope with its own debt problem, and stop sabotaging other sovereign countries’ active efforts to solve their debt issues.”

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