Latest update April 25th, 2024 12:59 AM
Mar 28, 2021 News
Kaieteur News – GUYANA INFO BOX
Chinese and Guyanese Presidents, Xi Jinping and Dr. Irfaan Ali, held talks on the promotion of the Belt and Road Initiative (BRI), on March 16. It is China’s controversial debt-laden plan to build a trade superhighway across the globe.
Guyana signed on to an instrument signaling its intent to participate, in July 2018. Under the initiative, scores of countries appear to benefit from multimillion-dollar soft loans from China for the construction of roads, bridges, airports, deep-water ports and other infrastructure.
Because the project has potential to impact the global political and economic reality significantly, it has become controversial, and has been dubbed by the West as a manifestation of China’s debt-trap diplomacy.
Kaieteur News has highlighted how China has been targeting weak and/or corrupt governments to sign onto its initiative, signing away exorbitant loans for mega-infrastructural projects. Several countries that signed onto China’s Belt and Road initiative are finding this out the hard way.
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