AIDDATA published in March 2023 a report titled "China As an International Lender of Last Resort" by Sebastian Horn, Bradley C. Parks, Carmen M. Reinhart, and Christoph Trebesch.
China has emerged as a key lender of last resort for a growing number of developing countries. Most of these rescue loans between 2000 and 2021 have gone to low and middle-income countries with significant debts outstanding to Chinese banks. Of the 22 countries compiled by AIDDATA, only 7 (Angola, Egypt, Kenya, Nigeria, South Sudan, Sudan, and Tanzania) are in Africa and of those only Egypt and Nigeria were major recipients of Chinese bank bailouts. In total, the debtor countries received $240 billion in rescue lending--$170 billion mostly in renminbi extended by the People's Bank of China to central banks of countries in financial or macroeconomic distress and $70 billion from Chinese state-owned banks and commodity enterprises in mostly US dollar-denominated rescue loans.
The New York Times published on 27 March 2023 an article titled "After Doling Out Huge Loans, China Is Now Bailing Out Countries" by Keith Bradsher.
This article discusses the AIDDATA study.
