Yellen's counselor Brent Neiman plans to criticize China's "unconventional" debt practices and its failure to move forward with debt relief at an event at the Peterson Institute for International Economics, a text of his prepared remarks obtained by Reuters shows. Neiman's critique of China's debt practices marks the latest salvo by Western officials and the leaders of the World Bank and International Monetary Fund, who have grown weary of delays and broken promises by China and private lenders. He noted that China had engaged in "unconventional" practices that had allowed the IMF to move forward without obtaining standard financing assurances. "In many of these cases, China is not the only creditor holding back quick and effective implementation of the typical (debt restructuring) playbook. But across the international lending landscape, China’s lack of participation in coordinated debt relief is the most common and the most consequential."

---