Brink of insolvency In addition, Beijing has extended an unprecedented volume of "rescue loans" to prevent sovereign defaults by big borrowers among about 150 countries that have signed up to the BRI. The value of such sovereign bailouts amounted to $US104 billion between 2019 and the end of 2021, according to a study by researchers at AidData, the World Bank, Harvard Kennedy School and Kiel Institute for the World Economy. Over a longer timeframe between 2000 and the end of 2021, such bailouts to developing countries totalled $US240 billion, the study found. Increasing numbers of BRI borrower countries are being…
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