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World News@lemmy.worldEnglish · 6 days ago

Poorest 75 nations face ‘tidal wave’ of debt repayments to China in 2025, study warns

www.theguardian.com

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Poorest 75 nations face ‘tidal wave’ of debt repayments to China in 2025, study warns

www.theguardian.com

solo@slrpnk.net to

World News@lemmy.worldEnglish · 6 days ago

5

cross-posted to:
news@lemmy.world

Poorest 750 nations face ‘tidal wave’ of debt repayments to China in 2025, study warns

www.theguardian.com

Vulnerable countries to pay record $22bn this year, mostly relating to loans issued under Xi Jinping’s belt and road initiative

The analysis, published on Tuesday by Australian foreign policy thinktank the Lowy Institute, said that in 2025 the poorest 75 countries were on the hook for record high debt repayments US$22bn to China. The 75 nations’ debt formed the bulk of the total $35bn calculated by Lowy for 2025.

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Cheradenine@sh.itjust.works
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6 days ago
https://en.wikipedia.org/wiki/Hambantota_International_Port

In 2016, the Sri Lanka Ports Authority had to repay ₨ 9 billion ($134 million) in construction fees for the Hambantota port, which, by the end of the year, accumulated a loss of ₨ 46.7 billion ($696 million).

These countries are often pressured to vote with China in the U.N. too

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