During the International Monetary Fund (IMF)/World Bank Annual Meetings held in October 15-17, 2025, Deputy Governor Xuan Changneng of the People’s Bank of China attended the Global Sovereign Debt Roundtable, and the Annual Meeting of the Group of Trustees of the Principles held by the Institute of International Finance.

Deputy Governor Xuan Changneng pointed out, trade frictions and geopolitical uncertainties have weighed on world economic growth. With increased debt servicing burden, developing countries are facing liquidity challenge. The international community should uphold the spirit of multilaterism and cooperation to collectively help developing countries to cope with liquidity challenge. China has actively participated in debt treatment both under and outside the G20 Common Framework for Debt Treatments, making the most substantial contribution. More efforts are needed to improve the global sovereign debt governance, including the IMF-World Bank Debt Sustainability Framework for Low Income Countries. The IMF and the World Bank should help debtor countries to strengthen public debt management and economic governance, mobilize more investment and financing, strengthen economic growth momentum, and achieve sustainable development.

During the meetings, Deputy Governor Xuan Changneng also met with Elisa de Anda Madrazo, President of the Financial Action Task Force; Kevin Greenidge, Governor of the Central Bank of Barbados. They exchanged views on deepening bilateral cooperation.