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China has lent to Latin America more than USD 100 billion
Posted On 08 Apr 2014

The previous year, down payments registered a fallen to USD 3 billion, the lowest since Chinese banks were interested in the region in 2005. According to the study, China also lent money to Ecuador and Jamaica, which was affected with serious fiscal deficit.
The Chinese Government seeks ways to balance the risks, charging interest rates higher than the capital market in Ecuador, or charging Venezuela and Ecuador with oil in Venezuela, explained Kevin Gallagher, co-Director of the Global Economic Governance Analysis Initiative of the University of Boston.
At the same time, China has shown increasing interest in countries such as Mexico, which `is opening´ its oil company legislation, and China `wants to be an actor’ in those changes, said Gallagher.