Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/251706 
Year of Publication: 
2021
Series/Report no.: 
BOFIT Policy Brief No. 5/2021
Publisher: 
Bank of Finland, Bank of Finland Institute for Emerging Economies (BOFIT), Helsinki
Abstract: 
China became the world's largest lender to emerging and developing economies over the past decade. At the same time, concerns on the debt sustainability of many of these countries have grown. Some countries have found themselves struggling to repay their loans and China has had to renegotiate debt restructurings bilaterally. As covid-19 pandemic hit many of the borrowers hard in 2020, China committed with all other G20 countries to the Debt Service Suspension Initiative (DSSI) to temporarily suspend official bilateral debt payment of 73 beneficiary countries. While China's overseas lending remain opaque, there is little evidence that China intentionally practices "debt-trap diplomacy."
Subjects: 
China
loans
loan restructuring
low-income and emerging economies
Persistent Identifier of the first edition: 
Document Type: 
Research Report

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