Economy
PRC-connected entities own more than 25% of my country’s bilateral sovereign debt.
2024
20/ 93
Affected Countries
Country
Score
Tajikistan
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Holding some 70% of the external debt, China is Tajikistan’s most important lender.
Answered by Umedjon Majidi, and has been reviewed by Aksana Akhmedova
Explore Tajikistan >Kyrgyzstan
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
China is also Kyrgyzstan’s largest creditor, holding more than 40 percent of Kyrgyzstan’s large external public debt.
Answered by 1 anonymous expert, and has been reviewed by Ani Kintsurashvili
Explore Kyrgyzstan >Costa Rica
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
In the public debt statistics published in the website of the Ministry of Finance, there is an external debt component that reflects the bilateral debt of the central government and when analyzing it, it can be deduced that the debt related to the People's Republic of China is equivalent to 49% of Costa Rica's total bilateral debt. I want to emphasize that if we take into account the total external debt, China only represents 2.5%. Therefore, this indicator deserves a "yes" response.
Answered by 1 anonymous expert, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano
Explore Costa Rica >Venezuela
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Despite it is difficult to find information, there are some estimates that show the bilateral debt between China and Venezuela is around 11 and 16 billion US$. Last forecasts made by independent researchers and organizations like Transparencia Venezuela come from 2021 and 2022. For 2023 it was impossible to add new information. But taking into account the existence evidence, we can confirm that the chinese financial entities own more than 25% of Venezuela´s bilateral sovereign debt. Therefore, this Indicator deserves a "Yes" response.
- https://www.bloomberg.com/news/articles/2023-05-02/china-venezuela-eye-reset-on-oil-debt-as-the-us-stands-by
- https://thepeoplesmap.net/globalchinapulse/chinese-finance-in-venezuela-a-non-interventionist-lenders-trap/
- https://transparenciave.org/wp-content/uploads/2022/03/Deuda-china-en-Venezuela.pdf
- http://dspaceudual.org/bitstream/Rep-UDUAL/215/1/China%e2%80%99s%20financing%20in%20Latin%20America%20and%20the%20Caribbean%2c%20Red%20ALC-CHINA.pdf
Answered by 1 anonymous expert, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano
Explore Venezuela >Ecuador
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
In August 2023, China represented the 69% of the Ecuador's bilateral debt.
Answered by Paúl Mena Mena, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano
Explore Ecuador >Gambia
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
yes
Supplementary Notes
As of 2018, China had made only one loan to The Gambia, for a telecoms project
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Gambia >Bolivia
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
The PRC is Bolivia's major bilateral soreveign creditor with more than 50% of the share
- https://www.bcb.gob.bo/webdocs/informes_deudaexterna/IDPE%2021.pdf
- https://eldeber.com.bo/economia/organismo-de-eeuu-indica-que-la-deuda-de-bolivia-con-china-es-de-us-4100-millones-el-bcb-contabiliza_350241
Answered by Hernan Alberro, and has been reviewed by another 1 anonymous expert.
Explore Bolivia >Pakistan
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
China and Chinese commercial banks held about 30% of Pakistan's total external debt of about $100 billion
- http://www.cadtm.org/Pakistan-s-debt-from-China-becomes-burden-as-CPEC-does-not-generate-enough
- https://cpecwire.com/analysis/china-pakistan-economic-corridor-what-is-cpec-faq
Answered by Shahzeb Jillani, and has been reviewed by another 1 anonymous expert.
Explore Pakistan >Nigeria
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
According to the external debt stock data from the Debt Management Office, China owns up to 86% of Bilateral Sovereign Debt. Therefore this indicator deserves a Yes response.
Answered by 1 anonymous expert, and has been reviewed by another 2 anonymous experts.
Explore Nigeria >Senegal
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
China owns about 50% of Senegal's bilateral debt. However, bilateral debt consists of a small portion of the country's overall debt stocks.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Senegal >Ethiopia
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
ADF's report said, "Chinese loans constitute about half of Ethiopia’s $28 billion in foreign debt over the past 25 years."
- https://adf-magazine.com/2024/01/ethiopia-defaults-amid-financial-strains-from-war-debt-to-china/
- https://www.thereporterethiopia.com/31921/#google_vignette
Answered by 1 anonymous expert, and has been reviewed by another 2 anonymous experts.
Explore Ethiopia >Kenya
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Kenya government data shows that China accounted for 73% of Kenya's bilateral debt in 2022. Therefore, this Indicator deserves a "Yes" response.
- https://asia.nikkei.com/Editor-s-Picks/Interview/As-China-debt-looms-Kenya-president-seeks-more-diverse-funding#:~:text=China%20accounted%20for%2073%25%20of,by%20a%20multibillion%2Ddollar%20loan
- https://www.standardmedia.co.ke/article/2001279079/china-now-controls-66-per-cent-of-kenya-s-bilateral-debt/
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Kenya >Nepal
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
An example of the debt perils is the the recently inaugurated Pokhara International Airport. This airport has come up with a USD 215 million loan from the Chinese EXIM Bank. The terms for this financing are highly adverse for Nepal’s economy. The rate of interest charged on this loan is 2 per cent, much higher than what other multilateral lenders such as the World Bank and Asian Development Bank (ADB) charge, hovering around 0.25 to 0.75 per cent. In contrast to these multilateral institutions which offer a payback term extending up to 40 years, the Chinese loan can be availed only with a payback deadline of a maximum of 15 to 20 years
- https://www.livemint.com/news/world/nepals-economic-ties-with-china-raise-concerns-about-debt-trap-diplomacy-11679843344516.html
- https://theprint.in/world/nepal-drowning-in-chinese-debt-trap/1473849/
- https://thewire.in/south-asia/a-potential-debt-trap-in-nepal
Answered by Sriparna Pathak, and has been reviewed by Ambassador Vijay Kant Karna
Explore Nepal >Argentina
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Currently, the swap with China represents 56% of the gross international reserves held by the Central Bank, about US$33 billion. Therefore, this indicator deserves a "yes" response.
- https://chequeado.com/nota/swap-con-china-que-implica-el-nuevo-acuerdo-y-que-impacto-tiene-en-las-reservas-del-pais/
- https://www.argentina.gob.ar/sites/default/files/informe_136_-_hsn.pdf
- https://www.argentina.gob.ar/sites/default/files/informe_137_-_hcdn-parte_1.pdf
Answered by Ricardo Ferrer Picado, and has been reviewed by Hernan Alberro
Explore Argentina >Myanmar
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Based on the latest information received, about 40 percent of foreign debt is owed to China.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Myanmar >Uganda
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Through Exim bank, China owns 75% of Uganda's bitlateral sovereign debt. Therefore, this Indicator deserves a "Yes" response.
- https://www.independent.co.ug/national-debt-ugandas-30-foreign-lenders/
- https://mepd.finance.go.ug/documents/DSA/DSA-FY202122.pdf
- https://apnews.com/article/62ab13badad04dd7b38a69b69eac61d1
Answered by Agather Atuhaire, and has been reviewed by Abdou Rahim Lema
Explore Uganda >Angola
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Angola relies heavily on Chinese Debt, with entities like China Development Bank and China Exim Bank amongst the top loaners.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Angola >Indonesia
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Indonesia has owed $20.2 billion to China as of 2022, and this debt will likely increase under the Belt and Road Initiative (BRI).
Answered by Muhammad Zulfikar Rakhmat, and has been reviewed by Yeta Purnama
Explore Indonesia >Cambodia
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
40% of Cambodian sovereign debt is owned by China.
Answered by Bradley J. Murg, and has been reviewed by another 2 anonymous experts.
Explore Cambodia >Georgia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Answered by Valeri Chechelashvili, and has been reviewed by Ani Kintsurashvili
Explore Georgia >Latvia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
22.7 %- Link
Answered by Una Aleksandra Berzina-Cerenkova, and has been reviewed by Ani Kintsurashvili
Explore Latvia >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 (Link) 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. Link Armenia's debt to China was just over $23 million USD dollars—a mere 0.33% of Armenia's total public debt.Link"
- https://www.cgdev.org/sites/default/files/examining-debt-implications-belt-and-road-initiative-policy-perspective.pdf
- https://armenianweekly.com/2019/01/03/is-armenia-playing-a-dangerous-game-with-china/
- https://agbu.org/silk-road-2020/asia-effect
Answered by Artak Kyurumyan, and has been reviewed by Ani Kintsurashvili
Explore Armenia >Azerbaijan
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Not Found
Supplementary Notes
No new evidence was found.
Answered by 2 anonymous experts, and has been reviewed by Aksana Akhmedova
Explore Azerbaijan >Kazakhstan
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Kazakhstan’s debt to China was 5.9 percent of its total external debt in April 2021, amounting to USD 9.7 billion, which included government-guaranteed debt of USD 1.39 billion, according to official data. Kazakhstan ranks as China’s fifth-largest recipient of grants and loans, having received USD 39.01 billion from official Chinese institutions from 2000 to 2017. It is among the 10 countries whose hidden debt to China (or loans issued to state-owned enterprises with implicit host government repayment guarantees) exceeds 10 percent of GDP.
Answered by Danil Bekturganov and Tatyana Sedova, and has been reviewed by Aksana Akhmedova
Explore Kazakhstan >Uzbekistan
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
China is now the largest bilateral creditor in Uzbekistan, even though last year what Tashkent owes to China accounted for only 17.6% of the external debt.
Supplementary Notes
By 2020, Uzbekistan’s debt to China has reached $3 billion, or 20% of the country’s total foreign debt. Link
Answered by Farkhod Tolipov, and has been reviewed by Ani Kintsurashvili
Explore Uzbekistan >Jordan
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Link Jordan's National Government Debt reached 44.7 USD bn in Aug 2023. Link Chinese banks offered Jordan over $1.6 billion in loans to finance the plant in 2017. Link 2023 - Over the last decade, China has signed agreements for infrastructure projects in Jordan worth over $7 billion.
- https://www.ceicdata.com/en/indicator/jordan/national-government-debt
- https://www.pbs.org/newshour/world/jordans-debt-to-china-soars-as-troubled-power-plant-sparks-concerns-about-beijings-influence
- https://www.newarab.com/analysis/how-jordan-stuck-billions-dollars-debt-china
Answered by 1 anonymous expert, and has been reviewed by Aksana Akhmedova
Explore Jordan >Egypt
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Link (China is Egypt’s fourth largest creditor, with outstanding debts amounting to nearly $8 billion)
Answered by 1 anonymous expert, and has been reviewed by Aksana Akhmedova
Explore Egypt >Belarus
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Not Found
Answered by 1 anonymous expert, and has been reviewed by Ani Kintsurashvili
Explore Belarus >Mongolia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
"Mongolia's debt to China remains low compared to multilateral (e.g. IMF and ADB) obligations. Some may prefer Chinese loans with no explicit strings attached compared to the IMF taking some comfort as loans from Beijing don’t bite immediately. Link"
Answered by Dulamkhorloo Baatar, and has been reviewed by Ani Kintsurashvili
Explore Mongolia >Mexico
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon.
- https://www.finanzaspublicas.hacienda.gob.mx/work/models/Finanzas_Publicas/docs/congreso/infotrim/2023/iiit/01inf/itindp_202303.pdf
- https://www.eleconomista.com.mx/economia/Deuda-Externa-de-Mexico-A-quien-le-debe-Mexico-Cuanto-debe-20181126-0053.html
- https://fincompara.mx/blog/que-es-la-deuda-externa-de-mexico/
Answered by 1 anonymous expert, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano
Explore Mexico >Panama
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon
Answered by Alonso Illueca, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano
Explore Panama >Peru
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon.
Supplementary Notes
China is not on the list of countries that are part of the medium and long-term external debt according to public reports made by the Ministry of Economy and Finance of Peru.
Answered by Jack Lo Lau and Jorge Jesús Chávez Ortíz, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano
Explore Peru >Chile
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
SPECIFIC COUNTRIES ARE UNDISCLOSED. Most of Chile's soverign debt was in Chilean currency, with less than 19% split in USD or Euros in 2019, 35% of the country's debt is foreign debt, and currently USD debt accounts for 24% and Euros 11.14%. Therefore, it is unlikely that China would own the totality and account for 25% of the country's soverign debt.
- https://www.pauta.cl/economia/2020/08/17/quienes-son-los-duenos-de-la-deuda-publica-emitida-por-el-fisco-chileno.html#:~:text=Los%20fondos%20de%20pensiones%2C%20con,bonos%20emitidos%20en%20moneda%20local
- https://www.hacienda.cl/areas-de-trabajo/finanzas-internacionales/oficina-de-la-deuda-publica/estadisticas/composicion-de-la-deuda
Supplementary Notes
The chilean government does not disclose who are the investors who own the foreign amount of chilean debt. This has been a matter of discussion. Of the totallity of the country's debt, 65% is national and 35% is foreign debt.
Answered by Sascha Hannig Núñez, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano
Explore Chile >Algeria
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Accoring to this report. Algeria's debt to PRC is 6%
Answered by 1 anonymous expert, and has been reviewed by Filip Noubel
Explore Algeria >France
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Answered by 1 anonymous expert, and has been reviewed by Filip Noubel
Explore France >Bangladesh
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
In 2021, Bangladesh's sovereign debt to China stood as 6.81%. During 2021-2023 Bangladesh received an additional US$ 3 billion loan from China - 10% of its annual international borrowing, with a repayment range from 10 years to 15 years. Bangladesh's total loan debt is 172 billion as on September 2023. As per AidData, Bangladesh’s debt exposure to China stands at $17.1 billion as of November 2023, accounting for 4.1% of its GDP.
- https://www.thedailystar.net/business/economy/news/new-worries-interest-payment-debt-doubles-5-months-3505431
- https://www.thedailystar.net/views/opinion/news/bangladesh-risk-falling-the-chinese-debt-trap-2224391
- https://www.statista.com/chart/19642/external-loan-debt-to-china-by-country/
- https://www.tbsnews.net/thoughts/sovereign-debt-bangladesh-where-do-we-stand-698578
- https://en.prothomalo.com/business/local/gpgs2q1tgm
- https://www.ceicdata.com/en/indicator/bangladesh/total-loans
- https://pressxpress.org/2023/11/19/bangladesh-china-partnership-aiddatas-insight-reveals-dynamics-in-20-79b-investment/
Answered by 1 anonymous expert, and has been reviewed by Filip Noubel
Explore Bangladesh >Lithuania
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Not Found
Answered by Konstantinas Andrijauskas, and has been reviewed by Vida Mačikėnaitė-Ambutavičienė and Linas Didvalis
Explore Lithuania >Bulgaria
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Not Found
Answered by Rumena Filipova, and has been reviewed by Matej Šimalčík
Explore Bulgaria >Austria
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Austria's foreign debt is mainly held by creditors in Europe.
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
There is no observation of the Indicator phenomenon.
Supplementary Notes
It is hard to know the exact numbers regarding certain arrangements.
Answered by 1 anonymous expert, and has been reviewed by Kristina Kironska
Explore Hungary >Belgium
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Belgium doesn't borrow from China in a way which could be considered bilateral sovereign debt
Answered by 1 anonymous expert, and has been reviewed by Richard Turcsányi
Explore Belgium >Bosnia and Herzegovina
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Based on the Ministry of Finanace and Treasurty of Bosnia and Herzegovina dana from April 2024, the level of debt towards Chinese banks is only 0,98 million euros in bank guarantees to Chinese EXIM Bank which is 0.02% of total external debt which is 4.5 billion euros
Answered by Stefan Vladisavljev and 1 anonymous expert, and has been reviewed by Kristina Kironska
Explore Bosnia and Herzegovina >Slovakia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon.
Answered by Matej Šimalčík, and has been reviewed by Richard Turcsányi
Explore Slovakia >Sweden
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
No evidence to suggest otherwise.
Answered by 1 anonymous expert, and has been reviewed by Richard Turcsányi
Explore Sweden >Finland
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon.
Answered by 1 anonymous expert, and has been reviewed by Richard Turcsányi
Explore Finland >Denmark
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Denmark has strong FDI screening laws now, stricter than the EU
Answered by 2 anonymous experts, and has been reviewed by Kristina Kironska
Explore Denmark >Ireland
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
In 2012 The National Treasury Management Agency has signed an agreement with a subsidiary of China's sovereign wealth fund which would allow the Chinese agency to invest in a range of assets in Ireland, including infrastructure and property. However there is no proof that China owns more then 25% of Irelands sovereign dedt
Answered by 2 anonymous experts, and has been reviewed by Richard Turcsányi
Explore Ireland >Albania
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observationof the indicator phenomenon.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Albania >Montenegro
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Montenegro >Serbia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Serbia >Greece
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the indicator phenomenon.
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
There is no observation of the indicator phenomenon.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore North Macedonia >Turkey
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Turkey >Iceland
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Iceland >Romania
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Most of Romania's public debt, which is at a moderate level overall, is held by multilateral institutions; bilateral debt is negligible and PRC does not appear on the list
- https://www.bnr.ro/Datoria-externa---BPM6-11333-Mobile.aspx#SDC
- https://cursdeguvernare.ro/cine-finanteaza-romania-structura-datoriei-externe-si-creditorii-statul-e-mai-indatorat-decat-economia.html
Answered by 1 anonymous expert, and has been reviewed by Mădălina Voinea and Sorin Ionita
Explore Romania >Moldova
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Moldova does not own money to the PRC under bilateral agreements
- https://mf.gov.md/ro/datoria-sectorului-public/rapoarte/datoria-de-stat/datoria-de-stat-extern%C4%83
Answered by 1 anonymous expert, and has been reviewed by Mădălina Voinea and Sorin Ionita
Explore Moldova >Italy
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Less than 10% of Italian debt is owed to non-EU member countries/entities.
Answered by 1 anonymous expert, and has been reviewed by Mădălina Voinea and Sorin Ionita
Explore Italy >Netherlands
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon.
Answered by 1 anonymous expert, and has been reviewed by Mădălina Voinea and Sorin Ionita
Explore Netherlands >Ukraine
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon.
Answered by 1 anonymous expert, and has been reviewed by Mădălina Voinea and Sorin Ionita
Explore Ukraine >Spain
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon. It represents less than 6 per cent.
Answered by Hernan Alberro, and has been reviewed by another 1 anonymous expert.
Explore Spain >Nicaragua
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Although there has been an increase in the bilateral sovereign debt with the PRC, it is still below 25% of the bilateral debt. Main bilateral creditors come from Central America.
Answered by Hernan Alberro, and has been reviewed by Javier Melendez
Explore Nicaragua >Paraguay
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Answered by Hernan Alberro, and has been reviewed by Julieta Heduvan
Explore Paraguay >Afghanistan
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
It’s not China but Russia that holds 36% of Afghanistan's external debt.
Answered by Rahimullah Kakar, and has been reviewed by Niva Yau
Explore Afghanistan >Turkmenistan
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
Answered by Temur Umarov, and has been reviewed by Niva Yau
Explore Turkmenistan >India
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon.
Supplementary Notes
At the end-March 2023, Japan holds 74.6 per cent of India’s bilateral SED, followed by Russia (11.2 per cent),Germany (10.0 per cent), and France (4.1 per cent).
Answered by 1 anonymous expert, and has been reviewed by Dr. Sriparna Pathak
Explore India >South Africa
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 South Africa >Singapore
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Singapore entities are the largest holders of Singapore sovereign debt based on official statements.
- https://tablebuilder.singstat.gov.sg/table/TS/M060221
- https://www.gov.sg/article/the-singapore-government-has-no-net-debt-we-have-a-strong-balance-sheet-with-assets-in-excess-of-liabilities#:~:text=In%20fact%2C%20the%20Singapore%20Government,the%20Net%20Investment%20Returns%20Contribution.
- https://www.mof.gov.sg/docs/default-source/default-document-library/news-and-publications/featured-reports/overview-of-singapore-government-borrowings.pdf
- https://ask.gov.sg/mof/questions/clgotv5ya009ri908aqiff6cl
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Singapore >Taiwan
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no specific bilateral debt between Taiwan and PRC, and there are strict regulations on how PRC entities and individuals purchasing Taiwanese government. Therefore, it is very likely that PRC government or its connected entities don't own more than 25% of Taiwan's bilateral soverign debt.
- https://law.moj.gov.tw/ENG/LawClass/LawAll.aspx?pcode=G0400147
- https://law.moj.gov.tw/LawClass/LawAll.aspx?pcode=Q0040015
- https://www.cbc.gov.tw/tw/cp-1071-1656-6225B-1.html
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Taiwan >Czech Republic
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 Czech Republic >Estonia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no obversation of the indicator phenomenon.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Estonia >Poland
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Poland >Vietnam
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
As of June 2023, Viet Nam’s largest bilateral creditor was Japan (with over VND 274 trillion), followed by South Korea (VND 28 trillion), France (VND 27 trillion) and Germany (VND 12 trillion).
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Vietnam >Russia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Not Found
- https://mo.tsargrad.tv/news/vneshnij-dolg-rossii-snizilsja-komu-dolzhna-nasha-strana_529785
- https://www.tadviser.ru/index.php/%D0%A1%D1%82%D0%B0%D1%82%D1%8C%D1%8F:%D0%94%D0%BE%D0%BB%D0%B3_%D0%A0%D0%BE%D1%81%D1%81%D0%B8%D0%B8#.D0.A0.D0.B5.D0.BA.D0.BE.D1.80.D0.B4.D0.BD.D0.BE.D0.B5_.D1.81.D0.BE.D0.BA.D1.80.D0.B0.D1.89.D0.B5.D0.BD.D0.B8.D0.B5_.D0.B2.D0.BD.D0.B5.D1.88.D0.BD.D0.B5.D0.B3.D0.BE_.D0.B3.D0.BE.D1.81.D0.B4.D0.BE.D0.BB.D0.B3.D0.B0_.D0.B2_.D0.B8.D0.BD.D0.BE.D1.81.D1.82.D1.80.D0.B0.D0.BD.D0.BD.D0.BE.D0.B9_.D0.B2.D0.B0.D0.BB.D1.8E.D1.82.D0.B5_.D0.B4.D0.BE_.24275_.D0.BC.D0.BB.D1.80.D0.B4
Answered by 1 anonymous expert, and has been reviewed by another 3 anonymous experts.
Explore Russia >New Zealand
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
No publicly available evidence to support this claim in the affirmative.
- https://web.archive.org/web/20240214040014/
- https://www.rbnz.govt.nz/statistics/series/new-zealand-debt-securities/holdings-of-central-government-debt-securities
Answered by Catherine Churchman, and has been reviewed by another 1 anonymous expert.
Explore New Zealand >Zimbabwe
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
China holds below 15 per cent of Zimbabwe's debt
Answered by Nancy Kambudzi, and has been reviewed by Andronicus Sikula and Dr. Obert Hodzi
Explore Zimbabwe >Democratic Republic of the Congo
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon.
Answered by 1 anonymous expert, and has been reviewed by Andronicus Sikula and Christian Rumu
Explore Democratic Republic of the Congo >Malaysia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
I don’t have information on this.
Answered by 2 anonymous experts, and has been reviewed by another 1 anonymous expert.
Explore Malaysia >Timor-Leste
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
The article piece says that there is to date no evidence of loan agreement between Timor-Leste and China.
Answered by 2 anonymous experts, and has been reviewed by another 1 anonymous expert.
Explore Timor-Leste >Uruguay
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon.
Answered by Ricardo Ferrer Picado, and has been reviewed by Hernan Alberro
Explore Uruguay >El Salvador
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the indicator phenomenon.
Answered by Eric Lemus, and has been reviewed by Julio Martinez and Alvaro Cruz
Explore El Salvador >Philippines
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the indicator phenomenon.
Supplementary Notes
As of June 2023, the country's biggest creditor is Japan, while China is only sixth.
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
There is no indicator of the said phenomenon.
Supplementary Notes
Thailand's Public Debt Management Office details the country's external debt classified by currency for the fiscal year ending in September 2023. Link
Answered by Pravit Rojanaphruk, and has been reviewed by another 1 anonymous expert.
Explore Thailand >Mozambique
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
While Mozambique has a significant amount of debt with China (as well as with other foreign donors), it does not amount to more than 25%.
Supplementary Notes
No indication or information of similar situation
Answered by Sérgio Chichava, and has been reviewed by Tomé Bambo
Explore Mozambique >Japan
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
The following link shows that China is the fourth largest holder of Japanese government bonds, at less than 25% of the total. Therefore, this indicator deserves a "No" response.
Answered by Ryohei Suzuki, and has been reviewed by Maiko Ichihara and Yuki Moritarni
Explore Japan >South Korea
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
We are unable to find any source which indicates it
Supplementary Notes
The share of foreign ownership of Korea’s sovereign debt is not that high. Link
Answered by Muhammad Zulfikar Rakhmat, and has been reviewed by Yeta Purnama
Explore South Korea >Saudi Arabia
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
We are unable to find any source which indicates it
Answered by Muhammad Zulfikar Rakhmat, and has been reviewed by Yeta Purnama
Explore Saudi Arabia >Qatar
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
This is because Qatar is relatively a wealthy nation
Answered by Muhammad Zulfikar Rakhmat, and has been reviewed by Yeta Purnama
Explore Qatar >Canada
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of this phenomenon.
Answered by 1 anonymous expert, and has been reviewed by Terry Glavin
Explore Canada >United States
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
There is no observation of the Indicator phenomenon.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore United States >Germany
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Not Found
Answered by Angela Stanzel, and has been reviewed by another 1 anonymous expert.
Explore Germany >United Kingdom
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
Approximately a quarter of the UK's net public debt is owned by foreign investors. While there is little public available information about the ownership of the UK's sovereign debt, it is estimated that American asset managers own a substantial share of the foreign-held debt. Thus, PRC-connected entities is unlikely to own more than 25% of the UK's bilateral sovereign debt.
- https://www.icaew.com/insights/viewpoints-on-the-news/2022/sept-2022/chart-of-the-week-uk-public-debt#:~:text=After%20deducting%20%C2%A3300bn%20in,UK%20individual%20investors%2C%20and%20%C2%A3
- https://www.thelondoneconomic.com/business-economics/who-owns-our-national-debt-its-a-secret-287907/
Answered by Leo Shaw, and has been reviewed by Sam Dunning and Andrew Yeh
Explore United Kingdom >Israel
No
Answer ( 0 / 4 )
Answer
Skip
No
Yes
Supporting Evidence
According to the Knesset (Israeli Parliament) Research and Information Center, Israel's sovereign debt includes only 1% from foreign governments.
Answered by The Institute for National Security Studies (INSS), and has been reviewed by another 1 anonymous expert.
Explore Israel >Lebanon
Skip
Answer
Skip
No
Yes
Supporting Evidence
It is difficult to calculate the exact amount of the debt as the country announced default in 2020; Link Facing a worsening economic crisis and with little chance of Western or oil-rich Arab countries assisting without substantial reforms, Lebanon’s cash-strapped government is looking east, hoping to secure investments from China that could bring relief
Answered by 2 anonymous experts, and has been reviewed by Aksana Akhmedova
Explore Lebanon >Colombia
Skip
Answer
Skip
No
Yes
Supporting Evidence
According to data from the Central Bank of Colombia, in the year 2023, 51% of the sovereign debt corresponds to bonds issued in international markets. As the report by Colombia Risk Analysis "Local perceptions of Chinese investment in Colombia" points out, although the Colombian government knows in whose hands these bonds are in, it is difficult to know who is the final beneficiary of these bonds.
- https://www.banrep.gov.co/sites/default/files/paginas/bdeudax_t.pdf
- https://mcusercontent.com/ec9dfe3030795aea9dd7ee1b6/files/02f19f81-7139-9807-8902-391b4727f372/Special_Report_Local_perceptions_of_Chinese_investment_in_Colombia_FINAL_ENG.pdf
Answered by 1 anonymous expert, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano
Explore Colombia >Portugal
Skip
Answer
Skip
No
Yes
Supporting Evidence
We don't have any public indicator that acknowledges this. In 2019, with the goal of diversifying the investors in the sovereign debt Portugal issued "Panda Bonds". But ever since there hasn't been any movements in this regard. In 2019, this transaction was placed at 259 million Euros. Therefore, while the local experts have not observed the indicator phenomena, they cannot provide the necessary documentary evidence to answer the Indicator in the negative. Thefrefore, a definite answer to this Indicator cannot be provided.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Portugal >Brazil
Skip
Answer
Skip
No
Yes
Supporting Evidence
We were unable to find detailed data for this indicator.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Brazil >Australia
Skip
Answer
Skip
No
Yes
Supporting Evidence
The latest figures show less than 50% of Australian Government Securities is held by non-residents. There is no further information on the background of non-resident holders of the securities. Given the lack of information, we have decided to skip this Indicator.
Answered by Leo Shaw, and has been reviewed by Kevin Mooney and Andrew Yeh
Explore Australia >
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