The $2 trillion interest bill that's hitting governments
Rising debt-servicing costs are complicating plans in many countries for more military and climate spending.
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Rising debt-servicing costs are complicating plans in many countries for more military and climate spending.
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China is owed more than a trillion dollars through its Belt and Road project, making it the biggest debt collector in the world, a report said this week, with an estimated 80 percent of the loans supporting countries in financial distress.AidData, it added, "estimates that 80 percent of China's overseas lending portfolio in the developing world is currently supporting countries in financial distress".
Destinations of overseas lending also changed; Loan commitments to African countries fell to 12pc
PROCESS Worldwide brings to you the ‘Top 10 plant engineering projects of October 2023’ from all over the world. Right from Solvay developing an electric furnace at its silica plant in France to Exxonmobil’s technology being selected for a demonstration plant in the Neom project, find out all the projects making headlines here.