GENERICO.ruEconomicsChina cut loans to other countries for the first time in 20 years

China cut loans to other countries for the first time in 20 years

MOSCOW, January 6 At the end of 2022, China reduced loans to other countries for the first time in 20 years, by 3% – to $182.8 billion, follows from the analysis World Bank data.
In total, China has reduced lending to 69 countries. The debt of countries with the smallest loans decreased the most: El Salvador's debt fell by 40%, to $300 thousand, Eritrea – by 33%, to $12.8 million, and the Dominican Republic – by 22.2%, to $707 thousand .
Turkmenistan reduced its debt by 22%, and at the end of the year it amounted to $119.5 million, and Niger reduced its debt by 21.9%, to $225.4 million. Loans to Vietnam and Turkey (by 21%), Brazil (by 20%), Mauritius and Myanmar (by 19%) decreased significantly.

The debt of the largest Chinese debtors at the end of 2022 also decreased. Thus, Pakistan reduced it by 7% – to 26.6 billion dollars, and Angola – by 5%, to 21 billion dollars. Sri Lanka's debt fell by 4% to $8.8 billion, and Ethiopia's by 8% to $6.8 billion. At the same time, Kenya's debt decreased by 9% and amounted to $6.7 billion.

At the same time, 25 countries’ debt to China increased, Guyana’s debt grew the most – by 2.2 times, to $520.3 million. Loans to Madagascar increased 1.7 times (to $314.3 million), and to Serbia by 30% (to $2.3 billion). Nigeria increased its debt to China by 18% to $4.3 billion, and Bangladesh by 15% to $6.1 billion.

Only two countries – Iran ($6.1 million) and Albania ($1.9 million) – had no change in debt for 2022.

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