Indonesia Grappling With $22 Billion Debt to China

Indonesia is working with China—on Indonesia’s first high speed railway—through Beijing’s Belt and Road infrastructure initiative.

The near 90-mile railway line comes with a high price tag: $8 billion and more than half of it is funded by a Chinese loan.

Indonesia is now more than $22 billion in debt to China.

One local media outlet called it a “ticking time bomb” for the Indonesian economy.

 

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