The World Bank has raised concerns about China's lending practices following the G7 agreement to cancel $50 billion of debt owed by African states. It claims that China is acting as a "free rider" by providing loans to states that have recently seen their balance sheets greatly improved. The bank claims that countries such as Rwanda and Ghana are in danger of falling back into the cycle of indebtedness because of proposed Chinese loans.
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The World Bank has raised concerns about China's lending practices following the G7 agreement to cancel $50 billion of debt owed by African states. It claims that China is acting as a "free rider" by providing loans to states that have recently seen their balance sheets greatly improved. The bank claims that countries such as Rwanda and Ghana are in danger of falling back into the cycle of indebtedness because of proposed Chinese loans.
[...] read full article
