Jakarta, CNBC Indonesia – Dozens of poor countries are facing economic instability and even slumping due to the burden of hundreds of billions of dollars in foreign loans. Most of it comes from China, the world's largest government lender.
Most of the countries that owe money to China are African countries. Although there are also in Southeast Asia, Central Asia, and the Pacific.
“As the new lender of choice for low-income countries, China owned 37% of these countries' debt in 2020,” said the World Bank, analyzed by Statista in 2023, quoted on Tuesday (16/1/2024) .
“Only 24% of these countries' bilateral debt came from other countries in the world that year,” he added.
China's debt project, known by the name belt and road, has financed the construction of ports, railways and land infrastructure around the world. So which countries borrow a lot?
Actually, referring to 2021 data, there are 98 countries in debt. However, here is a list of countries that have the largest debt:
1. Pakistan has US$27.4 billion (Rp. 427 trillion)
2. Angola US$22.0 billion (Rp. 343 trillion)
3. Ethiopia US$7.4 billion (Rp. 115 trillion)
4. Kenya US$7.4 billion (Rp. 115 trillion)
5. Sri Lanka US$7.2 billion (Rp. 112 trillion)
[Gambas:Video CNBC]
Next Article
Encouraging China's Economic Recovery, Xi Jinping Increases Debt
(sef/sef)