IMF's Lagarde on China's belt and road projects

The IMF's head, Christine Lagarde, is speaking in Beijing about progress in the One Belt one Road initiative in China.

Key Lagarde highlights:

Some belt and road investments could fail if not properly tended.

Need to ensure belt and road only travels where it is needed.

China must select projects that fill 'true infrastructure gaps'.

Belt and road ventures can lead to 'problematic' debt increases, worsen balance of payment challenges.

Is critical to manage financing terms.

China's leadership is fully aware of the risks.

Transparent decision-making in ongoing projects must be ensured.

and from the PBOC at the same event:

Financial institutions like the IMF play a key role in the belt and road project.

The belt and road is aiming for mutually beneficial cooperation.