UPDATE 1-US, China still committed to global debt efforts, IMF strategy chief says

Top U.S. and Chinese officials joined a meeting on Wednesday of the Global Sovereign Debt Roundtable, where a key topic was the lack of transparency about commercial bank loans that have complicated developing countries' debt restructuring efforts. The International Monetary Fund, World Bank and current G20 president South Africa issued a progress report after the meeting, calling for continued efforts to address elevated debt vulnerabilities, particularly in low-income countries.

It said debt levels in low-income countries and emerging economies had generally stabilized, but remained higher than during the pre-COVID-19 era, with a few being particularly vulnerable. Many also faced elevated debt-service challenges, crowding out spending on education, health and infrastructure. "Recent shi