Senior US Treasury official heads to Rome for talks on debt, Russian assets

Making Phyllo Parcels with a Greek Yaya | SaltWire #halifaxnovascotia #greekfood #cookingWASHINGTON - The U.S. Treasury Department's top international official will meet with Italian officials in Rome this week to discuss Russia's frozen assets ahead of the G7 leaders summit, and speak on developing country debt issues at a Vatican-led event, a Treasury spokesperson said on Monday.

The U.S. has been pushing its G7 partners - Japan, Germany, France, Britain, Italy and Canada - to embrace a loan backed by the income from the frozen assets that could provide Kyiv with as much as $50 billion in near-term funding. The loan has emerged as the top option after G7 countries failed to agree on seizing the assets outright.

On Tuesday, Shambaugh will speak with leaders of the World Food Programme, the International Fund for Agricultural Development and the Food and Agriculture Organization about U.S. priorities on food security. He will also take part in a livestreamed fireside chat hosted by IFAD. He said there was a longstanding historical precedent among Western creditors to engage in refinancings or reprofilings for borrowers and not to pull out when the going got rough.

Source: Loan Digest (loandigest.net)

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