China's Debt Diplomacy: Land of a Million Elephants Faces Control Concerns

Wednesday, 10 July 2024, 03:36

A recent report reveals that the Land of a Million Elephants' debt has surged to USD 950 million in 2023 from USD 507 million in 2022, with a significant portion owed to China. This massive increase raises questions about the country's financial stability and control over its own affairs. The rise in debt is a direct outcome of courtesy debt diplomacy with China, resulting in concerns about external influence and economic vulnerability in the region.
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China's Debt Diplomacy: Land of a Million Elephants Faces Control Concerns

Land of a Million Elephants Debt Crisis

A recent report exposes a surge in debt levels in the Land of a Million Elephants, which have nearly doubled within a year. The majority of this debt, totaling USD 950 million in 2023, is attributed to debts owed to China.

Key Points:

  • Rapid Debt Increase: From USD 507 million in 2022 to USD 950 million in 2023.
  • Chinese Influence: Concerns over the extent of control through debt diplomacy.
  • Financial Stability: Questions arise about the country's economic resilience and sovereignty.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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