End of Chinese banking windfall leaves poor countries vulnerable

It surprisingly quickly became quite the lender. Compared to developing countries, China is now a bigger creditor to the International Monetary Fund or the World Bank.

At first, this generosity was a real boon for low-income countries that wanted to finance infrastructure projects. But things got complicated. Beijing is not part of the Paris Club, an informal grouping of creditors made up mainly of wealthy countries, and drags its feet on reducing the debts of countries that are no longer able to repay them.


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