Djibouti suspends China and other loan repayments, banks on forgiveness
Published on: Monday 28 November 2022
Djibouti – the tiny nation at the intersection of the Red Sea and the Gulf of Aden where China has vast commercial and military interests – has suspended debt repayments to two of its main bilateral creditors as it struggles under mounting financing pressures. In its latest report on Djibouti, the World Bank said the country’s external debt servicing costs tripled in 2022 – from US$54 million last year to US$184 million – and predicted a further...
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