Tag: debt
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Maldives Gets IMF Debt Warning as More Chinese Loans Loom
The International Monetary Fund warned the Maldives against looming "debt distress" Monday, as the small but strategically placed luxury tourist destination looks set to borrow more from main creditor China. Since winning office last year, President Mohamed Muizzu has reoriented the ...
China-Laos Railway Brings Higher Mobility, Employment As Profit Concerns Linger
A group of Thais boarded the high-speed train between Boten and Vientiane, the capital of Laos. They had just finished a tour in China before crossing to the Boten station, about five minutes from the China-Laos checkpoint. The carriage was half empty because it was the last ...
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
Developing countries spent a staggering $294 billion to service their debts in 2022, a figure that's expected to balloon by a third this year, according to the findings of a new report published by the UK NGO ONE Campaign. While China ...
Sri Lanka Leases White Elephant Airport Built With Chinese Loans
Sri Lanka said Friday it had leased a white elephant international airport built with Chinese loans to a foreign joint venture as the island nation's bankrupt government seeks to offload loss-making assets. The small airport near a wildlife sanctuary on the ...
‘China Is the Winner’ in Maldives Election
A landslide parliamentary election victory for the Maldives' pro-China president clears the way for him to redraw the physical and geopolitical map of his strategically-located Indian Ocean archipelago in Beijing's favor, diplomats and analysts say. President Mohamed Muizzu's party, the People's ...
All Hands-on Deck Needed for Development Finance—including China
By Tim Hirschel-Burns Many people in the development finance community migrated up the United States' eastern seaboard over the weekend. Last week, the International Monetary Fund (IMF) and World Bank Group Spring Meetings took place in Washington D.C., while this week ...
China Writes Off Unspecified Amount of Zimbabwe’s Interest-Free Debt
China's ambassador to Zimbabwe, Zhou Ding, announced that Beijing will cancel a very small portion of Harare's estimated $2.1 billion of outstanding debt to Chinese creditors. Zhou said on Wednesday that interest-free loans that matured at the end of 2015 ...
Bridging the $3 Trillion Investment Gap: Debt Relief and the Race to Achieve the SDGs and Paris Agreement
By Marina Zucker-Marques This week, policymakers, civil society leaders, researchers, and others will gather in Washington, D.C., for the 2024 International Monetary Fund (IMF)/World Bank Group Spring Meetings. The meetings come as many ...
China Not a Significant Factor in Ghana’s Debt Distress – World Bank
Ghana has relatively low exposure to loans from China and multiple creditors, enabling the country to reach debt restructuring agreements. Chinese creditors account for only 7% of Ghana’s public external debt, while China accounts for 36% of Zambia’s external debt and ...
Tang Xiaoyang on Why the U.S., Not China is to Blame for Africa’s Debt Problems
While many in the West still contend Africa's worsening debt crisis is largely due to excessive Chinese lending, Tsinghua University Professor Tang Xiaoyang argues that accusation just isn't true. Instead, the well-known China-Africa scholar contends ...
Zambia is Very Close to Finalizing Its Debt Restructuring, But There’s Still One More Chinese Obstacle in the Way
Zambia's breakthrough deal on Monday to restructure $3 billion of Eurobond debt helps the southern African country move tantalizingly close to finally ending three years of brutal negotiations with its various creditors. Even though President Haikinde Hichilema's government has already negotiated a ...
China Uses Debt-Free Infrastructure Financing Model in Cambodia. It Ended up Being Popular
Cambodians are eagerly waiting for the country’s first waterway system, the Funan Techo Canal, to kick off construction scheduled late this year. Aside from the excitement for economic benefits that the canal promises, it has also brought more attention to the project’s investment scheme called Build-Operate-Transfer ...