Finance leaders from the world's top economies on Sunday adopted new princi...
FUKUOKA, Japan - Finance leaders from the world’s top economies on Sunday adopted new principles to ensure countries that lend and borrow for infrastructure spending do so in a sustainable manner, a move seen as addressing concerns that China’s lending practices have saddled some emerging nations with huge debt.
“We stress the importance of maximizing the positive impact of infrastructure to achieve sustainable growth and development while preserving the sustainability of public finances,” the G20 finance leaders said in a communique. As this year’s G20 chair, Japan has been spearheading efforts to find common ground on ways to address an increasing number of developing nations saddled with massive debt for building of roads, railway and port facilities.
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