info@marketresearchfuture.com   📞 +1 (855) 661-4441(US)   📞 +44 1720 412 167(UK)   📞 +91 2269738890(APAC)

Countries in Debt to China, as Per Reports

By Garvit Vyas , 25 April, 2023

Recently, China has bailed out some countries because of heavily in debt to China. According to the reports, these countries are mostly located in Africa, Southeast Asia and can also be found in the Central Asia and the Pacific.

As per the data, China held 37 percent of these nations’ debt in 2020. Also, 24 percent of the country’s bilateral debt hails from the rest of the world. The information regarding the “New Silk Road” project finances the construction of the rail, port and land infrastructure worldwide. It has also created much debt to China for participating countries.

The reports shows that, towards the end of 2021, 98 countries for whom the data was available- Kenya $7.4 billion external debt to China; $27.4 billion of external debt to China; Angola with $22.0 billion; Ethiopia with $ 7.4 billion, held the biggest debts to China. And the countries with biggest burdens equally are Djibouti and Angola. Followed by Laos and Maldives. This has opened a debt-laden railway line to China last year as well. David Malpass, president of the World Bank calls the level of debt many countries once as “unsustainable”.

Data says, in 2021, China has officially lent up to $180 billion to low- and middle-income countries from around $40 billion in 2010. Chinese loans have higher interest rates than those from the international institutions like International Monetary Fund or the World Bank or the bilateral loans from the Paris Club countries. These have even shorter repayment windows. Also, the setup is somewhat closer to the commercial loans concerning their conditions of repayment.

Public And Hidden Dept Exposure To China

China.jpg

Latest News

economy.png
Wind Industry can Support UK’s Economy in 2024

In 2024, several changes are taking place in the industrial sector globally. Recently, the United Kingdom revealed its future wind industry plans to support clean energy transitions. As estimates indicate, the United Kingdom's floating wind industry…

Read More

2022.png
High Rate of Emissions from Cement and Steel Manufacturing in 2024

The United Nations Environment Programme (UNEP) claims limiting the increase in global average temperature to 1.5 degrees Celsius is quite unrealistic. The emission rate from different industries shows various results in the reports published by UNEP…

Read More

sectors.png
Gen AI Revolutionizes Insurance Sector, Tries to Build Consumers’ Trust

Insurer executives worldwide report that generative AI is critical to maintaining their edge in the insurance market, and as such, 77% of them rank its significance. But customers, in this case, the clients of insurance companies, are more cautious…

Read More

year-wise.png
China Plans to Manufacture Fastest Charging EV Batteries

China rightfully takes center stage in progress in ultra-fast charging EV batteries. As it appears, a Chinese electric vehicle manufacturer has emerged as a clear industry leader by developing the fastest charging battery in the world that can go…

Read More

CHINESE-BRANDS-2024.jpg
Chinese Tech Sector Strengthens, may Dominate Western Big Techs in the Future

Chinese market goes through significant economic changes in 2024. Globally, Chinese brands are climbing the ladder higher in the market. A 2024 survey shows the performance of some Chinese companies with the highest brand value. These companies help…

Read More

Author Pic
Garvit Vyas

Analyst