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China’s Belt & Road Scheme Hits Repayment Trouble – Nikkei

Loan recipients of China, such as Sri Lanka, Egypt and Ghana, find themselves strapped for cash after suffering severe impacts from the Covid pandemic and global inflation.


The China-Laos rail link was a Belt and Road project that aims to bind the economies of Southeast Asia close to China. Photo: Xinhua.

 

China’s Belt and Road Initiative has hit difficultly as emerging economics struggle to repay loans, forcing officials to tighten its policy on lending, Nikkei Asia has reported.

Loan recipients of China under the scheme, such as Sri Lanka, Egypt and Ghana, find themselves strapped for cash after the Covid pandemic and soaring global inflation, the report said, adding that an estimated 60% of China’s loans are now owed by nations in debt crises.

Read the full report: Nikkei Asia.

 

 

Read more:

 

G7 Unveils $600bn Fund to Take on China’s Belt and Road

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

China Announces $257bn Infrastructure Projects for Shanghai

 

 

 

Alfie Habershon

Alfie is a Reporter at Asia Financial. He previously lived in Mumbai reporting on India's economy and healthcare for data journalism initiative IndiaSpend, as well as having worked for London based Tortoise Media.

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