china-debt | ABS-CBN News

Poor countries at risk of crisis amid rising debt: World Bank

ABS-CBN News
Posted at Dec 07 06:41 PM

Many of the world’s poorest countries are at risk of plunging into a debt crisis as interest rates rise and global growth slows down, the World Bank said on Wednesday. Read more »

Zambia cancels US$1.6B Chinese loans to avoid debt crisis

Jevans Nyabiage, South China Morning Post
Updated as of Aug 02 12:58 PM

Zambia has canceled US$1.6 billion in agreed upon but not-disbursed Chinese loans, mostly from China Exim Bank and the Industrial Commercial Bank of China, to help manage its debt woes. Read more »

China bond defaults hit $20-B as property sector on edge

Iris Ouyang, South China Morning Post
Posted at Jul 19 01:07 PM

The value of bond defaults in China in 2022 has already more than doubled the full-year total from last year as the debt crisis hits the $2.7 trillion property market. Read more »

Laos opens scenic railway built on a mountain of Chinese debt

Lisa Martin and Pathom Sangwongwanich, Agence France-Presse
Updated as of Dec 20 06:37 AM

Laos opened a new $6 billion rail link with China to much fanfare this month, but analysts warn the government faces a potential debt crisis. Read more »

Study: Zambia’s Chinese debts nearly doubled the official count

Jevans Nyabiage, South China Morning Post
Posted at Sep 29 01:02 PM

The administration of Zambia’s former president Edgar Lungu may have underplayed the burden of Chinese loans among its external creditors, a new report from a US-based research program shows. Read more »

Samoa to scrap China-backed port project

Jonathan Barrett, Reuters
Posted at May 20 06:41 PM

Samoa's expected new prime minister has pledged to cancel a $100 million Chinese-backed port development, calling it excessive for the small Pacific island that is already heavily indebted to China.   Read more »

Samoa to shelve China-backed port project under new leader

Jonathan Barrett, Reuters
Posted at May 20 09:34 AM

Samoa's expected new prime minister has pledged to shelve a $100 million Beijing-backed port development, calling the project excessive for the small Pacific island that is already heavily indebted to China. Read more »

China loans to Sub-Saharan Africa projects rose slightly last year— report

Jevans Nyabiage, South China Morning Post
Posted at Apr 30 01:28 PM

Chinese lenders advanced US$3.3 billion in 2020, a slight increase from 2019’s US$2.2 billion, according to the report from the multinational law firm Baker McKenzie, New Dynamics: Shifting Patterns in Africa’s Infrastructure Funding, which analyses new data from IJ Global.   Read more »

Govt again urged to disclose, audit Chinese loans

ABS-CBN News
Posted at Aug 31 05:41 PM

Activist group Akbayan on Monday again urged government to disclose and audit all Chinese loans as the country's top diplomat proposed the termination of Manila's contracts with Beijing firms involved in West Philippine Sea reclamation activities. Read more »

China lent billions to poor countries. They can’t pay it back.

Maria Abi-Habib and Keith Bradsher, The New York Times
Posted at May 19 05:09 AM

As the coronavirus spread around the globe, Pakistan’s foreign minister called his counterpart in Beijing last month with an urgent request: The country’s economy was nose-diving, and the government needed to restructure billions of dollars of Chinese loans.   Read more »