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View all search resultsAbout 90 percent of that increase came from advanced economies, plus China, with emerging and developing economies far less able to access financial markets for their spending needs, and also more vulnerable to possible interest rate rises, Vitor Gaspar, the IMF's head of fiscal policy, told Reuters in an interview.
The comments, made in an open letter to state-controlled BoC's chairman Liu Liange and signed by groups from 13 countries in Asia, Africa and Europe, add to the growing criticism of China for financing coal-fired power stations overseas, especially as part of its Belt and Road Initiative.
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