Immediately ban Chinese loan apps: Cong to Central Govt.

Aug 30, 2022, at 11:27 pm

New Delhi/UNI: The Congress on Tuesday raised questions on Centre’s silence on the Chinese fraud loan apps which according to reports have so far killed 52 people and siphoned off Rs 500 crore through Hawala.

Chinese debt-trap: Africa should take lesson from Sri Lankan economic crisis

Apr 09, 2022, at 05:03 am

The island nation of Sri Lanka is facing one of the worst economic crisis, skyrocketing inflation, food shortages and weak government finances. This has been an outcome of a sharp rise in foreign debt since 2010, reaching 88 percent of the country’s GDP in 2019, causing a severe economic crisis.

Protests against MCC in Nepal: A chapter from Chinese debt trap playbook

Feb 22, 2022, at 12:06 am

China’s protracted lobbying efforts aimed at blocking international development assistance to smaller countries exposes its bullying behavior.  For firming up its iron grip over such countries, China lures them with debt financing linked with superfluous and unviable infrastructure projects. After these projects get stuck or shelved because of their inherent problems or motivated approach of the financer, the leftover debt imprint is too overwhelming for the vulnerable client countries.