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Tuesday, Nov 24, 2020

China gives $2.1 billion in debt relief: What's the catch?

China says it has given 2.1 billion worth of debt relief to developing countries struggling with repayments due to the coronavirus. China has emerged as a major lender to emerging-market economies, especially those in sub-Saharan Africa.
As part of its trillion-dollar Belt and Road Initiative, China has financed large infrastructure projects throughout Africa that critics say have left many poor countries overloaded with debt.
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