Western banks come to the rescue before China forecloses on the loan for the billion-dollar motorway leading Montenegro to nowhere… | weehingthong

Western banks come to the rescue before China forecloses on the loan for the billion-dollar motorway leading Montenegro to nowhere…

Posted on July 5, 2021 by weehingthong

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Montenegro reaches deal with Western banks to restructure Chinese debt https://t.co/Oxu5yT4xOD
— South China Morning Post (@SCMPNews) July 11, 2021

https://t.co/rLUD2TVElh pic.twitter.com/MNm1uJ7vwj
— simonthong aka kitty poo (@KittyPo80176717) July 17, 2021

https://t.co/rLUD2TVElh pic.twitter.com/LXzRqQExeX
— simonthong aka kitty poo (@KittyPo80176717) July 17, 2021

https://t.co/rLUD2TE3tJ pic.twitter.com/exxKvGNaah
— simonthong aka kitty poo (@KittyPo80176717) July 17, 2021

https://www.scmp.com/news/china/diplomacy/article/3140602/montenegro-reaches-deal-western-banks-restructure-chinese-debt?utm_term=Autofeed&utm_medium=Social&utm_content=article&utm_source=Twitter#Echobox=1626002373

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Montenegro needed a highway and China offered to build it. But now the country owes a Chinese bank the equivalent of a quarter of its economy — and isn't sure it can afford it.

What's worse: once completed, the road won't lead anywhere.https://t.co/1nyzOVkjIq
— NPR (@NPR) June 30, 2021

"For Montenegro to have such a highway, it's like buying a Ferrari with the average salary," one researcher said. "And then you are thinking, oh, I might not have money for the gas."
— NPR (@NPR) June 30, 2021

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