NEW DELHI: As Pakistan inches closer to a default amid uncertainty over the resumption of the International Monetary Fund’s bailout package, worries for Beijing have risen. Several countries which have received loans from China under the Belt and Road Initiative have run into economic crises and have been unable to repay the debts. Last year […]Read More
NEW DELHI: Exactly a year ago, Sri Lanka defaulted for the first time in its history. And now as Pakistan’s economic crisis deepens amid its currency crashing against the U.S. dollar with surging inflation, it almost seems like a replay. It is no surprise that the Pakistani rupee crashed to 288.5 against the US dollar […]Read More
NEW DELHI: The Sheikh Hasina government in Bangladesh has a strong message for China—loans from Beijing cannot be used to arm twist the South Asian nation. China’s lending pattern has come under major scrutiny globally amid the economic turmoil pushing several countries into debt traps. Dhaka has asked China to relax several conditions that have […]Read More
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