eshrag
11-18-2018, 06:16 AM
Ibrahim Mohamed Solih says country’s financial situation ‘precarious’ after racking up huge debt with Beijing
The new president of the Maldives has declared the state coffers to have been looted and warned that the country is in financial difficulty after racking up debt with Chinese lenders in an infrastructure boom.
The island nation is the latest in a number of small countries where China has invested millions of dollars building highways and housing as part of its “belt and road” initiative.
Continue reading... (https://www.theguardian.com/world/2018/nov/18/maldives-new-president-warns-treasury-looted-during-china-led-boom)
The new president of the Maldives has declared the state coffers to have been looted and warned that the country is in financial difficulty after racking up debt with Chinese lenders in an infrastructure boom.
The island nation is the latest in a number of small countries where China has invested millions of dollars building highways and housing as part of its “belt and road” initiative.
Continue reading... (https://www.theguardian.com/world/2018/nov/18/maldives-new-president-warns-treasury-looted-during-china-led-boom)