Not all bad news20 May 2023 10:54
one way or another the gov of ecuador will have to pay back the loans......blocking copper and gold mining or taxing it too much likely to quickly result in a phone call from beijing or the imf washington.
ft weekend: "several of the 22 countries to which china has made rescue loans — including argentina, belarus, ecuador, egypt, laos, mongolia, ****stan, suriname, sri lanka, turkey, ukraine and venezuela — are also recipients of imf support.
however, there are big differences between imf programmes and chinese bailouts. one is that chinese money is not cheap. “a typical rescue loan from the imf carries a 2 per cent interest rate,” said the study. “the average interest rate attached to a chinese rescue loan is 5 per cent.”