China says it will co-operate on sovereign debt restructurings

China will co-operate to resolve an impasse over developing countries’ sovereign debt restructurings, a senior official said, as Beijing appeared to soften its stance in fraught negotiations over a string of defaults.

China’s central bank governor Yi Gang on Thursday told G20 finance ministers in Washington that the country was willing to work through the group’s so-called Common Framework for sovereign debt restructuring.

“China…