Djibouti, one of the countries at the heart of China multibillion-dollar Belt and Road Initiative, is struggling under mounting financial pressure and has s
Get latest articles and stories on World at LatestLY. The World Bank has in its latest report on Djibouti, stated that in 2022, Djibouti s debt servicing costs tripled to USD 184 million from USD 54 million in 2021. A further increase to USD 266 million has been predicted for 2023. World News | Djibouti Struggles to Repay Chinese Loan, Suspends Debt Repayments.
Djibouti struggles to repay Chinese loan, suspends debt repayments webindia123.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from webindia123.com Daily Mail and Mail on Sunday newspapers.
Over the last decade, Chinese lenders have led an unprecedented overseas financing boom for an array of mega projects, including ports, power plants and roads under President Xi Jinping s transcontinental infrastructure investment plan, the Belt and Road Initiative (BRI).
Djibouti – the tiny nation at the intersection of the Red Sea and the Gulf of Aden where China has vast commercial and military interests – has suspended debt