china debt trap

China’s lending to Africa rises for first time in seven years, study shows

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China’s lending to Africa rises for first time in seven years, study shows

NAIROBI: Chinese lenders approved loans worth $4.61 billion to Africa last year, marking the first annual increase since 2016, an independent study showed on Thursday. Africa secured more than $10 billion in loans a year from China between 2012-2018, thanks to President Xi Jinping’s Belt and Road Initiative (BRI), but the lending fell precipitously from … Read more

Nepal asks China to wipe away a loan it can’t afford to pay back

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Nepal asks China to wipe away a loan it can’t afford to pay back

KATHMANDU: When Nepal’s new international airport opened last year in one of the country’s biggest cities, it was the type of landmark project expected to elevate the fortunes of one of Asia’s poorest countries while deepening its ties with China, which built and financed the project. But the Pokhara airport has become a symbol of … Read more