Economic crisis: Beijing risks losing billions of dollars lent to poor countries

By the end of the year, developing nations must repay foreign debts amounting to $35 billion: 40% is owed to China. Dialogue between the Chinese, the World Bank and the International Monetary Fund on debt cancellation or restructuring is difficult. Beijing risks losing face (or a crisis of itsstate-owned banks).

Published on : July 5, 2022 at 6:17 AM

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