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SEPTEMBER 2019         TAP TIMES          -9-        Kyrgya Republic, Laos, Maldives, Mongolia,
                                                                Montenegro, Pakistan and Tajikistan.
                  New Silk Road (from 8)
                                                                With a total, so far, of 68 countries in-
        his Eurasian vision with China’s plan.                  volved in the BRI, China is well on its way
                                                                to becoming the world’s leading creditor,
        China’s plans may also place some partici-              as well as its top goods supplier.
        pants in peril, according to the policy pa-
        per by the CGD noted earlier.                           In its offi cial “Action Plan,” China says the
                                                                BRI will enable the country to “integrate
        If China follows its usual practices for                itself deeper into the world economic sys-
        infrastructure fi nancing, CGD says, “BRI               tem.”
        raises the risk of debt distress in some
        borrower countries.”                                    After a reading of the full Plan, many
                                                                would think China deserves plaudits for

        Financing for the greater part of the BRI               its willingness to assist its partners in so
        is likely to involve lenders with offi cial or          much of the world.  Does it?  Only time
        quasi-offi cial ties to China, including the            will tell if the BRI helps debtor countries.
        China Development Bank and the Export-
        Import Bank of China.                                   In addition, China says the new Silk Road
                                                                doesn’t have to stop with 68 countries.  “It
        There are eight countries which are par-                covers, but is not limited to the area of the
        ticularly susceptible to debt sustainability            ancients Silk Road.  It is open to all coun-
        problems.  These countries are Djibouti,                tries.”

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           E-tec Inserat Socket 2015 190x127mm US.indd   1                                                 18.06.15   10:06
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