China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building 'Belt and Road' infrastructure, a study published on Tuesday showed.
80 per cent of the lending was made between 2016 and 2021, mainly to middle-income countries including Argentina, Mongolia and Pakistan, according to the report by researchers from the World Bank, Harvard Kennedy School, AidData, and the Kiel Institute for the World Economy.
This story is from the March 29, 2023 edition of Business Standard.
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This story is from the March 29, 2023 edition of Business Standard.
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