China’s cash-strapped partners in their “Belt and Road” (BRI) global development project have been begging Beijing for debt relief amid the coronavirus pandemic, according to the Financial Times.

And according to Chinese policy advisers, the Xi regime is considering several options – including suspending interest payments on loans from the country’s financial institutions. That said, outright debt forgiveness is unlikely.

According to Washington-based consultancy RWR Advisory, Chinese financial institutions have lent an estimated $461bn for BRI projects since 2013 – making it the largest development initiative in the world.

Read more…