[GLOBAL SOUTH] What's Driving the Steady Decline in Chinese Overseas Development Lending?
The China in Africa Podcast
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Introduction
China and Sri Lanka earlier this month, the China Exyn bank sent the finance ministry a letter saying it would defer repayment of $2.83 billion of loans that Colombo owes. That was supposed to be the last big hurdle before Sri Lanka can qualify for an IMF emergency financing package. But two problems popped up with the Chinese and we've just started to hear about this over the past few days. US Treasurer Secretary Janet Yellen was in Lusaka last week and called out the Chinese for dragging out the debt restructuring process.
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