Countries Have $385 Billion In ‘Hidden Debts’ To China, Study Finds
A new study found under-reported debts of at least $385 billion owed by different countries to China in the past two decades, and that one-third of projects under the Belt and Road Initiative have run into major implementation problems.
The hidden debts, which slipped through the scrutiny of international lenders such as the World Bank and the International Monetary Fund (IMF), and credit rating agencies, mean borrowing countries may have to repay more than they think.
The findings are from a four-year study by AidData, an international development research lab based at William & Mary’s Global Research Institute in the United States.
Reported by BenarNews, an RFA-affiliated online news service.
