“China moved so fast that in some part of the world there is just too much debt,” World Bank President David Malpass said in his first interview on the job.
div > div.group > p:first-child"> "There are challenges facing the world in terms of how do you have transparent projects that are high quality, where the debt is transparent. China moved so fast that in some part of the world there is just too much debt," Malpass told CNBC's Sara Eisen on"Squawk on the Street.""That's something that we can work on with China.
Malpass has been a critic of China's lending efforts to fund its"One Belt, One Road" infrastructure initiative. Last year, he said these loans leave weaker countries with"excessive debt and low-quality projects." Malpass has also criticized China for taking low-cost loans from the World Bank despite being the second largest economy in the world and surpassing the bank's income threshold for low-cost loans in 2016.
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