Economy
PRC-connected entities own more than 50% of my country’s sovereign debt.
4/ 81
Affected Countries
Country
Score
Tajikistan
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
In 2009, the Tajik government and Chinese company TBEA agreed to construct a 200 MW coal power station in Dushanbe. Funding conflicts in the first phase of construction and possible political pressure from President Xi on the Export-Import Bank of China led to the bank providing Tajikistan directly with $331 million to finance the second phase of construction. When construction on the plant was completed in 2018, Tajikistan was left with a $331 million concessional loan to Eximbank and granted TBEA full mining licenses for two gold mines to cover the costs of construction. This will likely force Tajikistan into further economic reliance on China and disrupt the legitimacy of its own economic sovereignty. Link 52 percent of Dushanbe’s foreign debt ($1.2 billion) is from China. Link
- https://www.caspianpolicy.org/tajikistan-and-china-discuss-improving-bilateral-economic-relations/
- https://carnegie.ru/commentary/81402
Answered by Umedjon Majidi, and has been reviewed by Ani Kintsurashvili
Explore Tajikistan >Ethiopia
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Answered by Jean Githae, and has been reviewed by Tolera Gemta
Explore Ethiopia >Kenya
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
- https://qz.com/africa/1324618/china-is-kenyas-largest-creditor-with-72-of-total-bilateral-debt/
- https://www.businessdailyafrica.com/bd/economy/g20-derails-kenya-s-push-for-china-debt-relief-deal-2295320
- https://www.dw.com/en/kenya-struggles-to-manage-debt-for-railway-to-nowhere/a-50887431
Answered by Cathy Wamaitha, and has been reviewed by Allan Cheboi
Explore Kenya >Zambia
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
The silence and secrecy emanating from this makes it clear that Zambia's debt to China is indeed dangerously high
- https://www.sciencedirect.com/science/article/pii/S259029112100084X
- https://www.reuters.com/article/zambia-debt-idUSKBN2HA2L5
- https://thediplomat.com/2021/10/what-zambias-new-debt-reveal-tells-us-about-the-china-debt-trap-theory/
- https://www.reuters.com/world/africa/zambias-chinese-debt-nearly-twice-official-estimate-study-finds-2021-09-28/
- https://www.news24.com/citypress/business/china-offers-to-step-in-to-assist-zambias-173bn-debt-restructuring-20220506
Answered by 2 anonymous experts, and has been reviewed by another 3 anonymous experts.
Explore Zambia >Taiwan
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
According to the press release of Financial Supervisory Commission, from January to May 2021, the foreign investment institutes, oversea nationals and foreign natural persons, have remitted 12.83 billion USD, and the Chinese investment has remitted 4 million USD. Therefore, the financial investments of Chinese capitals are comparative less - unless they come in the name of foreign investment, but it will be difficult to track.
Answered by Chiang Min-yen, and has been reviewed by Lee Penghsuan
Explore Taiwan >Australia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Answered by Nathan Attrill, and has been reviewed by another 1 anonymous expert.
Explore Australia >New Zealand
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
No publicly available evidence to support this claim in the affirmative.
Answered by Nathan Attrill, and has been reviewed by another 1 anonymous expert.
Explore New Zealand >Indonesia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Indonesia’s debt ratio in 2020 is at 39.4% with USD 206.5 Billion. However, the PRC does not constitute more than half of the nation’s sovereign debts
- https://www.bi.go.id/en/publikasi/ruang-media/news-release/Pages/sp_231321.aspx
- https://theconversation.com/growing-dependence-on-china-is-dangerous-for-indonesia-what-can-be-done-150372
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Indonesia >Singapore
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
According to official sources, Singapore maintains no net foreign debt. This includes sovereign debt. Details, however, are difficult to independently ascertain.
- https://www.singstat.gov.sg/find-data/search-by-theme/economy/external-debt/latest-data
- https://www.mof.gov.sg/news-publications/media-articles/askST-Why-does-Singapore-have-an-external-debt-of-US1-766-trillion-
- https://www.tablebuilder.singstat.gov.sg/publicfacing/createDataTable.action?refId=14924
- https://www.gov.sg/article/is-it-fiscally-sustainable-for-singapore-to-have-such-a-high-level-of-debt
- https://global.chinadaily.com.cn/a/202009/18/WS5f63ed41a31024ad0ba7a40c.html
- https://www.straitstimes.com/singapore/singapore-business-chamber-in-china-key-to-relations-between-the-2-countries-minister-of
- https://www.enterprisesg.gov.sg/overseas-markets/asia-pacific/china/market-profile
Supplementary Notes
Singapore is the largest foreign investor in China and the China market is the largest destination for investments from one of Singapore's two sovereign wealth funds, Temasek Holdings.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Singapore >Georgia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Georgia owes the European Investment Bank $717 million and the IMF $210 million. Of states, Georgia owes the largest debt to France—$561 million. It owes $496 million dollars to Germany, $214 million to Japan, $43 million to Russia. Link
Answered by 1 anonymous expert, and has been reviewed by Ani Kintsurashvili and Tinatin Khidasheli
Explore Georgia >Kyrgyzstan
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Exim bank creditor - Forty-five percent of Bishkek’s external borrowing (worth $1.7 billion) is from China Link Kyrgyzstan’s foreign debt is reportedly as much as $5 billion and more than 40 percent of that ($1.8 billion) is owed to the Export-Import Bank of China for a series of infrastructure projects over the last decade under the guise of the Belt and Road Initiative (BRI), Chinese leader Xi Jinping's signature foreign-policy project. Link
Answered by Bakytbek Satybekov, and has been reviewed by Ani Kintsurashvili and Mariam Usenashvili
Explore Kyrgyzstan >Kazakhstan
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Answered by Tatiana Sedova, and has been reviewed by Ani Kintsurashvili
Explore Kazakhstan >Armenia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
With the North-South Highway already dramatically over budget, it remains yet unclear how Yerevan intends to pay up. A study by the Centre for Global Development warned that Armenia may be at risk of falling into China’s debt-trap, which owns over $340 million of the country’s public debt. According to the International Monetary Fund, this high share of foreign debt is a source of continued vulnerability for Armenia, despite sustainable rates of public debt.
Supplementary Notes
it is less than 50%
Answered by Artak Kyurumyan, and has been reviewed by Ani Kintsurashvili and Mariam Usenashvili
Explore Armenia >Nigeria
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
- https://www.youtube.com/watch?v=TIvyNP1Zh1Y
- https://www.dmo.gov.ng/facts-about-chinese-loans-to-nigeria
Answered by Eromosele John Aitokhuehi, and has been reviewed by Lekan Otufodunrin
Explore Nigeria >South Africa
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
No evidence
Answered by Amanda Strydom, and has been reviewed by Chris Roper and Joyce Lin
Explore South Africa >Senegal
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
- https://www.jeuneafrique.com/1001378/economie/qui-detient-la-dette-africaine/
- https://www.lepoint.fr/afrique/afrique-chine-des-relations-au-beau-fixe-15-03-2021-2417819_3826.php
- https://lequotidien.sn/dette-des-pays-africains-envers-la-chine-lalerte-de-moodys/
Answered by Christian Ngnie, and has been reviewed by Fadel Thior
Explore Senegal >Brazil
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
The biggest creditor is the BIRD (International Bank for Reconstruction and Development) with a 26.6% share of Brazil's external debt (page 5).
Answered by 1 anonymous expert, and has been reviewed by another 2 anonymous experts.
Explore Brazil >Bolívia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
The PRC owns 9% of the total Bolivian sovereign debt; however, it is the main creditor if not taking into account multilateral organizations, with a share of 75%.
Answered by Eloisa Larrea Montaño, and has been reviewed by another 2 anonymous experts.
Explore Bolívia >Argentina
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Answered by 1 anonymous expert, and has been reviewed by another 2 anonymous experts.
Explore Argentina >Uruguay
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Interview with an economist from Santander Bank in Uruguay supports the information from Bloomberg's website.
Answered by 1 anonymous expert, and has been reviewed by another 2 anonymous experts.
Explore Uruguay >Paraguay
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Supplementary Notes
Until 2019 Paraguay had a debt with China trust of Taiwan. Since 2013 Paraguay has issued bonds on international markets.
Answered by 1 anonymous expert, and has been reviewed by another 2 anonymous experts.
Explore Paraguay >Chile
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
retirement funds and banks account own most of the country’s debt. Less than half of the country’s debt is in USD and less than 10% in Euros. Most of it is in the local UF.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Chile >Colombia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
China is not even in the top 5 foreign holders of Colombian debt.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Colombia >Mexico
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
- https://www.eleconomista.com.mx/economia/Deuda-Externa-de-Mexico-A-quien-le-debe-Mexico-Cuanto-debe-20181126-0053.html
- https://www.dusselpeters.com/146.pdf
Answered by 2 anonymous experts, and has been reviewed by another 1 anonymous expert.
Explore Mexico >Peru
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Answered by 2 anonymous experts, and has been reviewed by another 1 anonymous expert.
Explore Peru >Venezuela
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Venezuela’s debt to China is estimated at USD 19,000,000, and the country’s sovereign debt stands at around USD 150,000,000,000.
- https://especiales.prodavinci.com/deudaexterna/
- https://www.project-syndicate.org/commentary/how-to-address-venezuela-debt-burden-by-ricardo-hausmann-et-al/spanish?barrier=accesspaylog
- https://www.dusselpeters.com/146.pdf
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Venezuela >South Korea
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
The share of foreign ownership of Korea’s sovereign debt is not that high.
Answered by 1 anonymous expert, and has been reviewed by PSA Team
Explore South Korea >Japan
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Not Found
Answered by Shin Kawashima and George Remisovsky, and has been reviewed by PSA Team
Explore Japan >Vietnam
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Not Found
Answered by Alexander Vuving, and has been reviewed by PSA Team
Explore Vietnam >United States
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Answered by 1 anonymous expert, and has been reviewed by PSA Team
Explore United States >Canada
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Not Found
Answered by 1 anonymous expert, and has been reviewed by PSA Team
Explore Canada >Philippines
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
- https://www.rappler.com/newsbreak/in-depth/duterte-loans-coronavirus-why-philippines-might-need-more
- https://www.dof.gov.ph/data/outstanding-public-sector-debt/
- https://globalnation.inquirer.net/196359/what-do-we-owe-china
- https://www.rappler.com/business/philippine-government-debt-february-2021
- https://www.dof.gov.ph/govt-taps-p58-4-billion-from-multilateral-lenders-for-covid-19-vaccines/
Supplementary Notes
The country has been borrowing to aid the covid pandemic. These borrowing mostly came from international banks. Philippines owes most of its debts to World Bank ($1.3 billion). The country also borrowed from other financial institute such as China’s Asian Infrastructure Investment Bank ($750 million), Japan International Cooperation Agency ($458.9 million), Agence Française de Développement ($275.7 million) and to global funds ($2.35 billion).
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Philippines >Thailand
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Thailand >Cambodia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
• 47% of the country’s sovereign debt (Link) • By the end of 2020 it was 44% Link
- https://www.rfa.org/khmer/news/analysis/chinese-govt-commitment-to-strengthen-ties-with-cambodia-04082021084443.html
- https://www.voacambodia.com/a/chinese-embassy-denies-radio-free-asia-s-debt-trap-claim/5849677.html
Supplementary Notes
It may have crossed 50% until now.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Cambodia >Malaysia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
The composition of foreign denominated borrowings was mainly in US dollar (54.6%) and yen (44.8%). Link
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Malaysia >Germany
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
No.
Answered by Didi Kirsten Tatlow, and has been reviewed by another 1 anonymous expert.
Explore Germany >Estonia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
It does not.
Answered by Frank Jüris, and has been reviewed by another 1 anonymous expert.
Explore Estonia >Czech Republic
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
No.
Answered by Tobiáš Lipold and 1 anonymous expert, and has been reviewed by Martin Hála
Explore Czech Republic >Bosnia and Herzegovina
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
According to the Ministry of Finance and Treasury of Bosnia and Herzegovina, the country’s total debt as of the first quarter of 2021 is 12.45 billion Bosnian convertible marks (BAM).[1] Of that debt 8.81 billion BAM is external while 3.6 billion BAM is internal. The biggest creditor of external debt is the European Investment Bank (EIB) at 2 billion BAM, followed by World Bank International Development Association (WBIDA) at 1.6 billion BAM, World Bank - International Bank for Reconstruction and Development (WBIBRD) at 1.15 billion BAM, International Monetary Fund at 912 billion BAM, and The Paris Club at 549 billion BAM.
- https://web.archive.org/web/20200101010000/https://www.mft.gov.ba/bos/images/stories/javni_dug/vanjski/2021/Quarterly%20overview%20of%20public%20debt%20of%20BIH%20-%20I%20quarter%20of%202021.pdf
- https://web.archive.org/web/20200101010000/https://www.mft.gov.ba/bos/images/stories/javni_dug/informacije/2021/april/Quarterly_report_on_external_debt_of_BH_I_quarter_of_2021._-_EN.pdf
Answered by Tobiáš Lipold, Amina Celikovic, Selma Asceric, Darko Brkan, Emir Velic, Semir Dzebo, Aldin Karahasanovic and Emir Muric, and has been reviewed by another 1 anonymous expert.
Explore Bosnia and Herzegovina >Poland
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Japan is by far the largest holder of Poland’s external debt. China has not been listed among the top 10 creditors.
- https://www.gov.pl/attachment/5c0dcf32-9b58-4a23-b7f1-2ef7f0ee0542
- https://www.gov.pl/attachment/595e3a68-7598-4168-9752-d981e2f85df4
- https://www.gov.pl/attachment/79ba95cd-143a-4b82-a8c4-4feb32f9678d
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Poland >United Kingdom
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
While there remains some lack of clarity around precise figures, HM Treasury data suggests that PRC entities do not own more than 50% of the UK’s sovereign debt.
Answered by Martin Thorley, and has been reviewed by Sam Hogg
Explore United Kingdom >Egypt
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Less than 10% (of Egypt’s GDP) of the sovereign debt Link
Answered by 1 anonymous expert, and has been reviewed by Ani Kintsurashvili
Explore Egypt >Jordan
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
- https://tradingeconomics.com/jordan/external-debt
- https://docs.aiddata.org/ad4/pdfs/Banking_on_the_Belt_and_Road__Insights_from_a_new_global_dataset_of_13427_Chinese_development_projects.pdf
Answered by 1 anonymous expert, and has been reviewed by Ani Kintsurashvili
Explore Jordan >Lebanon
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
No Evidence Found.
Answered by 1 anonymous expert, and has been reviewed by Ani Kintsurashvili
Explore Lebanon >Turkey
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Turkey >Serbia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Serbia >India
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
IDA, ADB and IBRD are major creditors of India's sovereign debt.
Answered by 1 anonymous expert, and has been reviewed by Dr. Sriparna Pathak
Explore India >Albania
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Not Found
Answered by Edval Zoto, and has been reviewed by another 1 anonymous expert.
Explore Albania >Montenegro
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Not Found
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Montenegro >Latvia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
External Dept Link Latvia Government Debt Link Links prove that Latvia does not own more than 50% of sovereign debts from PRC.
- https://tradingeconomics.com/country-list/external-debt
- https://www.ceicdata.com/en/indicator/latvia/government-debt--of-nominal-gdp
Answered by Una Berzina-Cherenkova, and has been reviewed by Salome Svanidze
Explore Latvia >Uzbekistan
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Uzbekistan owns the debts from China but we can state that the number is not 50%.
Answered by Farkhad Tolipov, and has been reviewed by Salome Svanidze
Explore Uzbekistan >Sierra Leone
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
No available on this question
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Sierra Leone >Ghana
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
it appears that China's loans to Ghana are mostly in exchange for some natural resources
- https://www.myjoyonline.com/ghana-owed-imf-world-bank-others-7-9bn-as-of-september-2020/
- https://www.myjoyonline.com/international-capital-market-debt-constitutes-46-of-ghanas-external-debt/
- https://www.cnbc.com/2019/11/21/chinas-2-billion-ghana-deal-fears-over-debt-influence-environment.html
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Ghana >Tanzania
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Tanzania >Gambia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
China has actually written off significant chuck of the loan owed to the country
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Gambia >Slovakia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Not Found
Answered by , and has been reviewed by another 1 anonymous expert.
Explore Slovakia >France
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Not Found
Answered by Filip Noubel, and has been reviewed by another 1 anonymous expert.
Explore France >Bangladesh
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
At the end of fiscal 2020-21, Bangladesh's external debt stood at $60.15 billion. Out of which 38 percent was from the World Bank, 24.5 percent from the Asian Development Bank (ADB), 17 percent from the Japan International Cooperation Agency (Jica), 6.81 percent from China, 6.14 percent from Russia, and 1.3 percent from India. In 2016, Bangladesh government signed a Memorandum of Understanding (MoU) with China worth over $20 billion for implementing 27 development projects. However the actual amount disbursed was much lower for these projects as only a few of them are being implemented.
- https://www.thefinancialexpress.com.bd/economy/chinas-lending-to-bangladesh-surges-1611975747
- https://www.thedailystar.net/views/opinion/news/bangladesh-risk-falling-the-chinese-debt-trap-2224391
- https://thediplomat.com/2021/11/the-bri-in-bangladesh-win-win-or-a-debt-trap/
- https://www.thedailystar.net/news/bangladesh/diplomacy/news/bangladesh-not-any-chinese-debt-trap-ambassador-reiterates-3021466?amp
- https://docs.aiddata.org/ad4/pdfs/Banking_on_the_Belt_and_Road__Insights_from_a_new_global_dataset_of_13427_Chinese_development_projects.pdf
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Bangladesh >Lithuania
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
No such incident occurred.
Answered by Konstantinas Andrijauskas, and has been reviewed by Vida Macikenaite and Linas Didvalis
Explore Lithuania >Bulgaria
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Answered by Rumena Filipova and Mirela Petkova, and has been reviewed by Matej Šimalčík
Explore Bulgaria >Austria
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
While the majority (in 2020 66,7%) of Austria’s sovereign debt is owned by foreign entities, the vast majority of this foreign owned debt is owned by Eurozone entities.
- https://www.parlament.gv.at/PAKT/VHG/XXVII/III/III_00226/index.shtml
- https://kurier.at/wirtschaft/wem-der-staat-oesterreich-geld-schuldet/261.988.407
Answered by 2 anonymous experts, and has been reviewed by Alfred Gerstl
Explore Austria >Hungary
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
NA
Supplementary Notes
There is no evidence to suggest otherwise.
Answered by 2 anonymous experts, and has been reviewed by Kristína Kironská
Explore Hungary >Belgium
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Interview with expert n°3
Answered by 1 anonymous expert, and has been reviewed by Alfred Gerstl
Explore Belgium >Sweden
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
No evidence exists to suggest otherwise.
Answered by 2 anonymous experts, and has been reviewed by Richard Turcsányi
Explore Sweden >Finland
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
No evidence exists to suggest otherwise.
Answered by 2 anonymous experts, and has been reviewed by Richard Turcsányi
Explore Finland >Greece
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Supplementary Notes
Some 55% of Greece’s cumulative debt is held by the European Stability Mechanism (ESM). China is not among the major creditors of Greece.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Greece >North Macedonia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Supplementary Notes
In 2021 North Macedonia’s debt amounted to about 6.5 billion USD. Of that about 500 million USD is owed to the Chinese Exim Bank.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore North Macedonia >Afghanistan
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
PRC does not issue loans to Afghanistan due to instability.
Answered by 2 anonymous experts, and has been reviewed by another 1 anonymous expert.
Explore Afghanistan >Costa Rica
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
El enlace contiene declaraciones del exministro de Hacienda, Elian Villegas (2020-2022), en las que afirma que la RPC ni sus entidades financieras son acreedores de más de la mitad de la deuda soberana de Costa Rica.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Costa Rica >Ecuador
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Supporting Evidence
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Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Ecuador >Panama
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Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Panama >Romania
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Supporting Evidence
There is no public info about PRC ownership of Romanian debt and Romania hasn't signed any loan agreement with China in the past two decades
Answered by 1 anonymous expert, and has been reviewed by Sorin Ionita
Explore Romania >Moldova
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- https://docs.aiddata.org/ad4/pdfs/Banking_on_the_Belt_and_Road__Insights_from_a_new_global_dataset_of_13427_Chinese_development_projects.pdf
- https://www.bnm.md/files/05_DE_2021_q2.pdf
Supplementary Notes
Yes for imports, No for exports: China is not in the top 10 for exports, but is the number one individual partner in terms of imports, where it barely edges out Romania and Russia with 11.9% of all Moldovan imports. In terms of trading blocs, the PRC lags behind the EU and the Commonwealth of Independent States
Answered by Eugen Muravschi, and has been reviewed by another 1 anonymous expert.
Explore Moldova >Ukraine
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Supplementary Notes
Most of the debt belongs to IFI and in Eurobonds
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Ukraine >Italy
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Answered by 1 anonymous expert, and has been reviewed by Sorin Ionita
Explore Italy >Netherlands
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- https://www.dnb.nl/nieuws-statistiek/snb-2020/nederlandse-beleggers-bezitten-minder-nederlands-staatspapier/
- https://www.nu.nl/economie/6129711/wat-is-dat-nou-precies-de-staatsschuld-dit-moet-je-erover-weten.html
Supplementary Notes
More than half the national debt is owned by Dutch investors and the European banking system
Answered by 1 anonymous expert, and has been reviewed by Sorin Ionita
Explore Netherlands >Azerbaijan
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Supporting Evidence
No Evidence Found.
Answered by Gubad Ibadoghlu and Vusal Guliyev, and has been reviewed by Ani Kintsurashvili
Explore Azerbaijan >Belarus
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Supporting Evidence
In order to overcome the phobia of Chinese “debt trap” the Government of Belarus recently decreased the number and amount of Chinese loans tied to infrastructure projects, improved credit terms, increased FDI from China, and created joint industrial park ‘Great Stone’. As a result, the case of Belarus and China outlines how to avoid “debt trap” in ‘Belt and Road’ initiative by focusing on FDI from China. (see below URL 1) At present trade in goods with China does not exceed 6% of total Belarusian trade. Meanwhile, debts owed to Chinese banks have reached approximately US$3.3 billion, which accounts for approximately 20% of foreign public debt, and exacerbates the macroeconomic problems. In December 2019, Beijing granted the Belarusian government a direct loan of US$500 million. (see below URL 2) Chinese loans and economic activities in the Eastern European nation still remain overshadowed by Russian actions on the ground. For comparison, at the end of March 2020, the volume of loans granted to Minsk by Moscow reached almost $8 billion, according to the prospectus of the issue of Belarusian Eurobonds, while Belarus’ outstanding debt to China is about $3 billion. (see below URL 3)
- https://www.intechopen.com/chapters/75896
- https://www.osw.waw.pl/sites/default/files/OSW-Studies_The-non-strategic-partnership_net-1.pdf
- https://globalcomment.com/what-is-chinas-agenda-in-belarus/
Answered by 1 anonymous expert, and has been reviewed by Salome Svanidze
Explore Belarus >Spain
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Supporting Evidence
There are no equivalent figures for China from either the Spanish or Chinese authorities. However the perception in the market is that this jurisdiction is playing a considerable and growing role in financing the Spanish Treasury in the last two years.
- https://www.sefofuncas.com/Spain%E2%80%99s-economic-prospects-under-the-new-administration/Spanish-public-debt-holdings-at-the-end-of-the-ECBs-purchase-programme
- https://www.realinstitutoelcano.org/en/much-spanish-sovereign-debt-china-hold/
Answered by Hernan Alberro, and has been reviewed by another 1 anonymous expert.
Explore Spain >Nicaragua
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Supporting Evidence
Evidence show it is multilateral organizations mostly.
Answered by Hernan Alberro, and has been reviewed by another 1 anonymous expert.
Explore Nicaragua >Pakistan
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Supporting Evidence
In May 2022, Pakistan said it owes $18.4 billion or one-fifth of its external public debt to China, which is not only $4 billion higher than the officially reported figures but is also the highest lending by any single country or financial institution.
Answered by 1 anonymous expert, and has been reviewed by Dr Ammar Malik
Explore Pakistan >Turkmenistan
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Supporting Evidence
But actually we don’t know the real numbers, Turkmenistan stopped publishing those and international organizations like WB and IMF also do not have access to this information.
Answered by 2 anonymous experts, and has been reviewed by another 1 anonymous expert.
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