ANALYSIS: China Collecting Debt From Poorest Countries

Published on November 22, 2023

News Analysis Beginning in 2001 and including the Belt and Road Initiative (BRI) that started in 2013, China has invested in nearly 21,000 projects across 165 low- and middle-income countries. The total outstanding debt owed to China is roughly $1.1 trillion, and over half of these loans are now due—a proportion that will reach 75 percent by 2030. Initially, these projects were expected to drive GDP growth in borrower nations, with increased economic output enabling them to repay their loans. However, numerous projects have fallen short of completion or failed to generate the projected returns. A notable case in point is the China-Pakistan Economic Corridor (CPEC), long touted as the crown jewel of the BRI, also known as “One Belt, One Road.”...

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