COLOMBO -- When Ahmed Siyam, a Maldivian business magnate, rushed to service a $127.5 million loan he had received from the state-owned Export-Import Bank of China, he eased fears in the Indian Ocean archipelago about the Maldives falling into a Chinese debt-trap. But the August repayment reminded many of the risk of carrying billions of dollars in Chinese credit shrouded in secrecy.
Belt and Road
China debt trap fear haunts Maldives government
Beijing reminds Male of sovereign guarantee on a private resort deal
The Maldives has borrowed heavily from China for infrastructure projects, including a bridge connecting the capital Male to the country's international airport on another island. (Photo by Yuji Kuronuma)
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