Pacific Money | Economy | South Asia | Southeast Asia

Asia’s Debt Handoff: Who Finances the Post-BRI Era?

As Belt and Road repayments come due and multilateral lenders step in, Asian borrowers must decide whether the new creditor landscape becomes a source of leverage or simply a new form of dependence.

On October 12, on the sidelines of the IMF-World Bank Annual Meetings in Bangkok, the Borrowers’ Platform held its first Governing Council and set out priorities for its first annual cycle. Launched in April with U.N. Trade and Development (UNCTAD) as its secretariat, the platform is a forum for borrowing countries to strengthen debt management, coordinate positions, and speak with a stronger collective voice in global debt discussions. Several developing countries have already formally joined, and many more have been invited to participate. 

The Bangkok meetings were dominated by an energy supply shock linked to the war in West Asia, which has landed alongside rising interest rates and public debt at its highest level since World War II. Developing countries are facing some $400 billion in payments to external creditors this year.

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On October 12, on the sidelines of the IMF-World Bank Annual Meetings in Bangkok, the Borrowers’ Platform held its first Governing Council and set out priorities for its first annual cycle. Launched in April with U.N. Trade and Development (UNCTAD) as its secretariat, the platform is a forum for borrowing countries to strengthen debt management, coordinate positions, and speak with a stronger collective voice in global debt discussions. Several........

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