Researchers have identified debts of at least $385bn owed by 165 countries to China for ”belt and road initiative” (BRI) projects. It found 42 low-to-middle income countries (LMICs) had debt exposure to China exceeding 10% of their GDP. It found China’s overseas lending had dramatically shifted from government-to-government loans during the pre-BRI era, to almost 70% now going to state-owned companies and banks, joint ventures, private institutions, and special purpose vehicles (SPVs). Amid growing controversy, BRI lending has slowed in recent years.
Source: The Guardian
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