China owed $385bn ā including āhidden debtā from poorer nations, says report
Researchers have identified debts of at least $385bn (Ā£286bn) owed by 165 countries to China for āBelt and road initiativeā (BRI) projects, with loans systematically underreported to international bodies such as the World Bank.
The four-year study by US-based research lab AidData said the debt burdens were kept off the public balance sheets through the use of special purpose and semi-private loans, and were āsubstantially larger than research institutions, credit rating agencies, or intergovernmental organisations with surveillance responsibilities previously understoodā.
It found 42 low-to-middle income countries (LMICs) had debt exposure to China exceeding 10% of their GDP, including Laos, Papua New Guinea, the Maldives, Brunei, Cambodia and Myanmar.
Source: the Guardian #Sep30
https://t.co/dcJYteM0Ng
#China #Debt #BRI #LMICs
Researchers have identified debts of at least $385bn (Ā£286bn) owed by 165 countries to China for āBelt and road initiativeā (BRI) projects, with loans systematically underreported to international bodies such as the World Bank.
The four-year study by US-based research lab AidData said the debt burdens were kept off the public balance sheets through the use of special purpose and semi-private loans, and were āsubstantially larger than research institutions, credit rating agencies, or intergovernmental organisations with surveillance responsibilities previously understoodā.
It found 42 low-to-middle income countries (LMICs) had debt exposure to China exceeding 10% of their GDP, including Laos, Papua New Guinea, the Maldives, Brunei, Cambodia and Myanmar.
Source: the Guardian #Sep30
https://t.co/dcJYteM0Ng
#China #Debt #BRI #LMICs