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Montenegro narrowly avoids Chinese dept trap, for now

At the last minute, Montenegro last month successfully paid the first instalment of a one billion US dollars loan owed to Exim Bank of China, a loan that threatened to crush the country’s economy as its national debt ballooned to 103 per cent of GDP.

Montenegro narrowly avoids Chinese dept trap, for now

Montenegro narrowly avoids Chinese dept trap, for now
emerging-europe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from emerging-europe.com Daily Mail and Mail on Sunday newspapers.

China s deal with Montenegro makes sense if you realize it s not about money

China s deal with Montenegro makes sense if you realize it s not about money
americanthinker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanthinker.com Daily Mail and Mail on Sunday newspapers.

How A Chinese-Built Highway Drove Montenegro Deep Into Debt- Added COMMENTARY By Haitian-Truth – HAITIAN-TRUTH ORG Proud to be Haiti s most informative NEWS site

PODGORICA, Montenegro The section of highway that threatens to cripple Montenegro’s economy begins in the foothills outside the capital Podgorica, where scaffolding lines a multi-lane expressway closed off to the public. The highway ends, for now, in the remote mountainous terrain east of the city. The Chinese state-owned company hasn’t finished construction yet, so cars are using the old road underneath it. The highway hasn’t been paid for yet, either. The first installment of the $1 billion loan from a Chinese state bank is due in July, and it’s unclear whether Montenegro, whose debt has climbed to more than a 100% of its gross domestic product due to this project, will be able to afford it. What’s worse, says the country’s former Justice Minister Dragan Soc, once completed, the road won’t lead anywhere anyway. “We make a joke: It is a highway from nothing to nothing,” he says.

Montenegro Getting European Help To Refinance Its Massive China Debt

Montenegro Getting European Help To Refinance Its Massive China Debt
theusnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theusnews.com Daily Mail and Mail on Sunday newspapers.

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