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Bangladesh Minister Warns on China’s Belt and Road Loans – FT

Developing countries should think twice before taking loans via China’s Belt and Road scheme given global inflation, slowing growth and the crisis in Sri Lanka, Dhaka minister says


China should have reviewed BRI projects in Sri Lanka more thoroughly, Bangladesh minister says.
The economic crisis in Sri Lanka led to riots that caused the former president to flee. Bangladesh's finance minister says China should have been more careful with the Belt and Road loans it gave to Colombo, as they were a factor in the country's collapse. File photo: AFP.

 

The finance minister of Bangladesh, Mustafa Kamal, says developing countries should “think twice” before taking more loans through China’s Belt and Road scheme given global inflation, slowing growth and the economic crisis in Sri Lanka, according to a report by the Financial Times, which quoted him saying “Everybody is blaming China. [And] China cannot disagree. It’s their responsibility.”

Kamal said the crisis in Sri Lanka showed China should have undertaken “a thorough study” of the projects involved before lending, the report said. “After Sri Lanka . . . we felt that Chinese authorities are not taking care of this particular aspect, which is very, very important,” he was quoted as saying.

Read the full report: The Financial Times.

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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