Kathmandu, May 16 (IANS) Nepal and China signed a Memorandum of Understanding (MoU) on cooperation under the Belt and Road Initiative (BRI) on May 12, 2017. Nine years later, no new project has been implemented in Nepal under the BRI, although Beijing has unilaterally categorised the China-assisted Pokhara International Airport in western Nepal as a landmark achievement under the initiative. Nepal, however, has not recognised the airport as a BRI project because negotiations with China to build …
Latest Debt Trap News & Updates
New Delhi, Jan 8 (IANS) Bangladesh is facing a major economic problem as rising debt repayments, much of them linked to Chinese loans, squeeze public finances and limit policy choices. Senior officials now openly acknowledge that the country has fallen into a debt trap like Sri Lanka and Pakistan, according to a report in the London-based ‘Asian Lite’ newspaper.Chairman of Bangladesh’s National Board of Revenue M Abdur Rahman Khan said at a seminar recently that the country “has already fall…
New Delhi, Jan 3 (IANS) In view of the increased dependence of Dhaka on the Belt and Road Initiative (BRI) of China, it is no wonder that Bangladesh is slipping into a debt trap the way Sri Lanka had, a new report has warned, saying that Dhaka is now paying the price of accepting Chinese loans, but refusing to learn.Bangladesh has gone the same way as its South Asian neighbours like Sri Lanka, according to a report in Asian News Post.Following unsustainable borrowings from China, in 2022, Colomb…