November 06, 2024 05:08 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Union Minister HD Kumaraswamy booked for threatening cop probing into mining case | Supreme Court upholds validity of Uttar Pradesh Madrasa Education Act | Not all private properties are community resources that govt can take over: Supreme Court | Pakistan's Lahore has become world's most polluted city with an AQI of 1900 on Sunday | Indian Army 'successfully completes' patrolling to a key point in Ladakh's Depsang region
Research reveals poorest nations to pay China USD 14 billion to service debts in 2022
China Debt Trap
Representational image from Wallpaper Cave

Research reveals poorest nations to pay China USD 14 billion to service debts in 2022

| @indiablooms | 23 Mar 2022, 11:28 am

Beijing: A new research has found that the world’s poorest nations will pay China and its lenders almost $14 billion this year in debt servicing costs.

The research also urged Beijing to do more to support restructuring for those who need it.

In total, 68 such countries will pay $52.8 billion this year in debt costs, according to a report by the Green Finance & Development Centre at Fudan University in Shanghai as quoted by South China Morning Post.

More than a quarter of that will go to China, the report estimates, as Beijing is one of the largest lenders to developing nations, the newspaper reported.

At the end of 2020, the 68 nations collectively owed about $110 billion to various Chinese lenders in official bilateral debt, the report estimates, up from $105 billion in 2019. China was the largest single creditor after the World Bank’s International Development Association, the report says as quoted by South China Morning Post.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Images
Xi Jinping, Putin in Russia 22 Mar 2023, 02:56 pm
Related Videos