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The world’s poorest international locations can pay about $52.8 billion in debt servicing prices this 12 months, of which 26% ($13.7 billion) will go to Chinese language lenders, in accordance with a brand new report launched on Monday by the Inexperienced Finance and Improvement Heart at Fudan College in Shanghai.
The report, by Mengdi Yue and Christoph Nedopil Wang, exhibits that China’s lending to creating international locations is simply outstripped by that of the World Financial institution’s Worldwide Improvement Affiliation. The collective debt burden dealing with the world’s 68 low-income international locations rose by 12%, to a document $860 billion in 2020. In comparison with 2015, the variety of these international locations displaying indicators of debt misery has doubled.
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