Vulnerable countries to pay record $22bn this year, mostly relating to loans issued under Xi Jinping’s Belt and Road Initiative
The most vulnerable nations on Earth are facing a “tidal wave” of debt repayments as a Chinese lending boom starts to be called in, a new report has warned.
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.
“Now, and for the rest of this decade, China will be more debt collector than banker to the developing world,” the report said.
The pressure to repay was putting strain on local funding for health and education as well as climate change mitigation.
One belt. One road.
Can you please explain how the USA is permitted use of gitmo?
WTF does Gitmo have to do with this?
The lease that the US gained Gitmo from was technically with a government that no longer exists. The Cubans don’t have the resources to push the US out.
Funnily enough this would not apply to the Chinese if the countries they’re fucking with decide to push them out. The Chinese military is less experienced than a Somalian militia and doesn’t have a particularly good way of deploying troops, their navy is better than Russia but that means nothing.
here’s the lease treaty