The Rise of Non-Paris Club Lenders and the Impact on the Recovery Prospects

Lee: G20 attempted to help that problem by promulgating what they called the common framework applicable to the 73 poorest countries in the world. Its innovation, frankly its sole innovation was to try to bring China and the non-Paris club bilateral creditors into the tent with the Paris club creditors. One looks back almost with nostalgia on the old days when there were two major creditor groups," he says.