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Poland's government targets independent news channel TVN24

Polish media have angered critics who say they target the US company Discovery Inc., owner of the TVN broadcaster that’s openly critical of the right-wing government. The changes were published on Poland’s parliament website late Wednesday and were proposed by lawmakers from the governing Law and Justice party that has been taking steps to control the media ever since winning power in 2015. Critics say the party has turned state TVP broadcaster into its mouthpiece and wants to limit media ownership by foreign investors. The TVN broadcaster’s all-news TVN24 channel that exposes alleged irregularities and scandals within the government has long irritated the Law and Justice party. ....

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Montenegro Looks to Refinance Chinese Debt Trap Loan Used to Build 'Road to Nowhere'

SAVO PRELEVIC/AFP via Getty Images
7 Jul 2021
Montenegro is negotiating with “a number of Western banks from Europe and the United States” to refinance almost a billion dollars in loans taken out from Chinese banks to finance a lavish road construction project, the country’s economy minister, Jakov Milatovic, said Wednesday.
Milatovic did not name any of the banks in question, but said he is “very optimistic” a deal will be reached within “weeks” to refinance Montenegro’s two-percent Chinese debt at one percent or less.
“There are two options: the first is to refinance, the second is to swap the loan, or the third option is to do part of the first one and part of the second one. We believe we can get much better terms,” he insisted. ....

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Montenegro Looks to Refinance Chinese Debt Trap Loan Used to Build 'Road to Nowhere'

Montenegro Looks to Refinance Chinese Debt Trap Loan Used to Build 'Road to Nowhere'
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The Future of Chinese Loans Further Complicate Montenegro's Political Scene - Leonardo Dinic

Montenegro is rich with gorgeous coastlines and sweeping mountain ranges. The small Balkan country with a population of 600,000 has become a geopolitical flashpoint, as Europe, China, Russia, and the United States all actively attempt to influence its political and economic future. While Russia maintains its deep historical ties to the region as a whole, China looks to maximize investment opportunities, while the U.S. hopes to retain its military ally on the Adriatic coast.
As Russia and the United States pursue political and security relationships in Montenegro, China and the European Union are both investing in the country’s infrastructure, raising concerns about Montenegro’s ballooning debt burden. Recently, a regional highway financed by the Export-Import Bank of China and constructed by Chinese firms has drawn concern from locals. Competing domestic and geopolitical interests give the highway project the perception of being a ‘debt trap,’ meanwhile, Montenegro� ....

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Montenegro learns true cost of China-backed $1 billion road to nowhere

Two sleek new roads vanish into mountain tunnels high above a sleepy Montenegrin village, the unlikely endpoint of a billion-dollar project bankrolled by China that is threatening to derail the tiny country’s economy.
The government has already burnt through $944 million in Chinese loans to complete the first stretch of road, just 41 kilometres, making it among the world’s most expensive pieces of tarmac.
Montenegro’s finance minister on Friday (16 April) tried to ease concern over a near $1 billion Chinese-backed road project, insisting the country could afford to repay the debt and did not need EU help.
Chinese workers have spent six years carving tunnels through solid rock and raising concrete pillars above gorges and canyons, but the road in effect goes nowhere. ....

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