China Is Increasing Debt On Poor Countries Through ‘Silk Road’ Projects, IMF Chief Warns

International Monetary Fund (IMF) chief Christine Lagarde has warned China about saddling other countries with a “problematic increase in debt” through its ambitious global trade infrastructure project. Lagarde made the comments at a Beijing forum on Chinese President Xi Jinping’s signature Belt and Road initiative, a $1 trillion road, rail and construction project spanning dozens of countries — from Asia to Africa and Europe.

But many of the colossal projects are being built by state-owned Chinese companies and financed by loans from China, leaving states billions of dollars in debt to Beijing.

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