China is the world’s largest debt collector
3 days, 12 hours ago

China is the world’s largest debt collector

The Hindu  

Over 25% of the world’s bilateral external debt was owed to China by the end of 2023, making the country the leading debt collector. Further, over the last two decades, when China’s external lending increased massively, the amount of bilateral external debt owed by countries surged exponentially too. Chart 1 shows the bilateral external debt stocks owed to all countries and to China specifically over time. It also shows China’s share in the total bilateral external debt stock owed.

China Japan Debt Stock Bilateral Countries End Billion 2023 External Owed Its Bilateral Debt External Debt Stock Bilateral External Debt  countries  owed  stock  billion  worlds  china  external  collector  2023  debt  largest  end  bilateral

History of this topic

India’s External Debt Interest Surges 93%
2 weeks, 2 days ago

India’s External Debt Interest Surges 93%

Deccan Chronicle  

Chennai: Interest payments on India’s public and publicly guaranteed external debt in 2023 rose by 93 per cent, while total interest payment on external debt went up by 49 per cent. The South Asia region saw the biggest yearly increase in interest payments on PPG debt in 2023, rising 62 percent to US$12.5 billion. While the interest payment on external …

China to support leading firms in borrowing long-term foreign debt
4 months, 4 weeks ago

China to support leading firms in borrowing long-term foreign debt

China Daily  

BEIJING - China is set to support prominent, creditworthy companies that promote high-quality development within the real economy by allowing them to borrow medium to long-term foreign debt. The NDRC said the new measures aim to expand high-level opening up, improve the convenience of cross-border investment and financing, and effectively utilize foreign debt to support high-quality development. Medium to long-term …

Wake Up, Dhaka! China’s ‘Help’ Comes at a Steep Price
6 months, 3 weeks ago

Wake Up, Dhaka! China’s ‘Help’ Comes at a Steep Price

News 18  

China’s investment and lending in South Asian and African countries has dramatically increased following the “Going Global” strategy of 1999, reaching new heights with the ambitious Belt and Road Initiative launched in 2013. Chinese government’s interest in Bangladesh gained prominence around 2009 and intensified after Xi Jinping’s landmark visit to Dhaka in 2016—the year Bangladesh joined the BRI and cemented …

Debt owed by Pakistan, Sri Lanka and Bangladesh to China rise to record levels: Data
7 months, 1 week ago

Debt owed by Pakistan, Sri Lanka and Bangladesh to China rise to record levels: Data

The Hindu  

Debt owed by various countries, especially in South Asia and Africa, to China has multiplied in recent years. In comparison, the low-and-middle-income countries’ total debt owed to the International Bank for Reconstruction and Development, a global development cooperative owned by 189 nations, was just a little higher at $223 billion. As seen in Chart 1, Pakistan’s total external debt stocks …

China may pare its US debt holdings
9 months ago

China may pare its US debt holdings

China Daily  

A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. China may continue to reduce the share of US debt in its overall foreign exchange reserves amid its ramped-up efforts to diversify foreign asset portfolios, experts said on Wednesday. In the short term, factors like changes in monetary …

The $2 trillion interest bill that’s hitting governments
1 year, 1 month ago

The $2 trillion interest bill that’s hitting governments

Live Mint  

The world spent the past decade-plus taking advantage of rock-bottom interest rates to binge on debt. Governments are expected to spend a net $2 trillion paying interest on their debt this year as higher interest rates make borrowing more expensive, up more than 10% from 2022, according to an analysis of International Monetary Fund data by research consulting firm Teal …

Sri Lanka confirms major debt deal with China
1 year, 2 months ago

Sri Lanka confirms major debt deal with China

The Hindu  

The Sri Lankan government has confirmed that it has concluded a preliminary deal with China on the restructuring of its debts to Beijing, seen as a "big step" in the cash-strapped country's economic recovery. China holds about 52% of Sri Lanka’s $46 billion external credit.” The agreement in principle covers approximately $4.2 billion of outstanding debt, it said adding that …

China's great wall of debt driving ‘unsustainable’ increase in borrowing, IMF warns
1 year, 3 months ago

China's great wall of debt driving ‘unsustainable’ increase in borrowing, IMF warns

The Telegraph  

China is driving global debt back towards unsustainable levels amid an “unparalleled” borrowing binge by property developers and local governments, according to the International Monetary Fund. The IMF warned that a declining global debt share in 2022 risked being just a “pandemic blip” and said there was an urgent need to “restore fiscal sustainability”. “Global debt, which remained significantly higher …

How does US debt rank compared with the rest of the world?
1 year, 6 months ago

How does US debt rank compared with the rest of the world?

Al Jazeera  

The United States has the world’s highest national debt at $31.4 trillion. Global debt currently stands at $305 trillion, $45 trillion higher than before the COVID-19 pandemic, according to the Institute of International Finance – a global association of the financial industry. The IIF predicts that global debt will continue to rise as government borrowing remains high, affected by factors …

China in Quandary as Pakistan Faces Debt Default After Steep Fall in Forex Reserves
1 year, 10 months ago

China in Quandary as Pakistan Faces Debt Default After Steep Fall in Forex Reserves

News 18  

Watching warily Pakistan plunging into the worst economic crisis with prospects of defaulting on foreign loans, China which holds Islamabad’s largest debt on Monday said it backed measures taken by its “all-weather friend” to tide over the disastrous situation and hoped it will, in the end, pull through. Pakistan’s current account deficit shrank 90.2 per cent to USD 0.24 billion …

West's debt trap allegations don't stand up to scrutiny
1 year, 10 months ago

West's debt trap allegations don't stand up to scrutiny

China Daily  

Earlier this month, during his first official visit abroad since his appointment as China's foreign minister, Qin Gang vehemently denied allegations that his country's aid to African nations is a "debt trap". According to the World Bank's international debt statistics, by the end of 2020, the sovereign debt of 82 low- and middle-income countries held by commercial and multilateral lenders …

China's debt trap: BRI countries owe China close to 385 billion USD in hidden debt, reveals report
3 years, 2 months ago

China's debt trap: BRI countries owe China close to 385 billion USD in hidden debt, reveals report

Op India  

China has long been known for using its financial clout to further “debt-trap diplomacy”, a policy that encompasses saddling borrowing nations with excessive credit with the intention of extracting economic or political concessions from the debtor country when it finds it increasingly difficult to meet its debt repayment obligations. Now, a report published by AidData says China’s Belt and Road …

External debts 2020
3 years, 8 months ago

External debts 2020

China Daily  

As at the end of 2020,China recorded 15.665 trillion yuan in outstanding external debt denominated in both domestic and foreign currencies. In terms of maturity structure, the outstanding medium-and long-term external debt was 7075.8 billion yuan, accounting for 45 percent; while the outstanding short-term external debt was 8589.2 billion yuan, taking up 55 percent, including 39 percent trade-related credit. In …

China's Debt-trap Diplomacy? Beijing Delays Kenya's $245 Million Debt in 'Repayment Holiday'
3 years, 10 months ago

China's Debt-trap Diplomacy? Beijing Delays Kenya's $245 Million Debt in 'Repayment Holiday'

News 18  

The Chinese government has postponed Kenya’s debt repayments worth $245 million due over the next six months in a ‘debt repayment holiday’ in what is seen as another example of Beijing’s debt-trap diplomacy. According to reports, Chinese loans comprised 21 per cent of Kenya’s external debt at the end of June 2020, compared with the World Bank’s 25 per cent. …

Economy in Rebound, China Borrows at Negative Interest Rates for the First Time
4 years, 1 month ago

Economy in Rebound, China Borrows at Negative Interest Rates for the First Time

News 18  

China is cashing in on fears that the West’s faltering economic recovery will keep interest rates near record lows for a long time. “It shows investors are still underexposed to China and there definitely is a scarcity value perceived in these bonds,” said Deutsche Bank’s head of China onshore debt capital markets, Sam Fischer. European investors seized the opportunity to …

Debt as Chinese weapon?
4 years, 4 months ago

Debt as Chinese weapon?

The Hindu  

Declared by the United States and its allies as the leading threat to global stability, China has been accused of transgressions varying from stealing hi-tech secrets, spying and interfering in domestic politics of other countries to spreading viruses. On the other hand, lending to overseas investment and construction projects that can be included under the BRI, is estimated at around …

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