China Says It’s ‘Doing Its Best’ to Help Laos Ease Debt Burden
- Beijing is the landlocked country’s biggest creditor by far
- China dismisses Washington’s ‘debt-trap diplomacy’ allegation
Tourists pose for photos with a China Aid plaque at the Patuxay Victory Monument in Vientiane.
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China said it is helping neighboring Laos to ease its massive debt burden after the Southeast Asian nation revealed that external repayments have nearly doubled and it wants further deferrals to prevent a default.
Beijing has carried out “mutually beneficial cooperation” with developing countries including Laos that involves strong support for economic and social development, a spokesman at China’s Ministry of Foreign Affairs said Tuesday in a written reply to Bloomberg’s questions.