Printer Friendly

IMF warns China about saddling other nations with a debt.

Beijing: IMF warned China about saddling other nations with a "problematic increase in debt" through its ambitious global trade infrastructure project.

IMF chief Christine Lagarde made the comments at a Beijing forum on Chinese President Xi Jinping's signature Belt and Road initiative, a USD 1 trillion road, rail and construction project spanning dozens of countries -- from Asia to Africa and Europe.

But many of the colossal projects are being built by state-owned Chinese companies and financed by loans from China, leaving states billions of dollars in debt to Beijing. "These ventures can also lead to a problematic increase in debt, potentially limiting other spending as debt service rises, and creating balance of payment challenges," Lagarde told the crowd of Chinese and foreign officials.

COPYRIGHT 2018 Plus Media Solutions
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2018 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Daily the Pak Banker (Lahore, Pakistan)
Geographic Code:9CHIN
Date:Apr 15, 2018
Words:123
Previous Article:Lexus India starts deliveries of its compact luxury SUV, NX 300h.
Next Article:Apple asked to pay $500m.
Topics:

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters