Global Debt Crisis Intensified by U.S.-China Rivalry.
The intensifying debt crisis in middle- and lower-income countries is being complicated by the rivalry between the US and China. While the International Monetary Fund (IMF) and the US demand that Chinese creditors restructure debt, China has refused to bow to Washington. As a result, countries like Suriname are caught in the geopolitical crossfire, with access to aid delayed. The IMF and the US are reluctant to provide relief until Chinese financial institutions participate, arguing that Chinese lenders are free-riding on debt forgiveness extended by others.