Montenegro reaches deal with Western banks to restructure Chinese debt

Source: China – South China Morning PostMontenegro, a tiny Balkan state of just 620,000 people, has become the centre of a geopolitical battle between Beijing and Brussels – and has also sucked in the US.On Thursday, the Montenegrin government secured a deal with two banks from the US and one French bank to restructure its Chinese loan of nearly US$1 billion — equivalent to about a fifth of the nation’s GDP in 2019.With the help of American and European partners, “Montenegro managed to reduce the interest rate on the Exim Bank of…Read More

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