Papua New Guinea has asked Beijing to refinance its $8 billion debt, in a request likely to rile Australia and the US as they try to maintain ...
PORT MORESBY: Papua New Guinea has asked Beijing to refinance its US$8 billion debt, in a request likely to rile Australia and the US as they try to maintain their influence in the Pacific in the face of a rising China.
"He suggested that both the Bank of PNG and the PRC People's Bank will take the lead with the Department of Treasury in ensuring that consultations are underway." Lowy Institue Pacific programme director Jonathan Pryke told AFP the request to Beijing, coming just after Australia rolled out the red carpet for Marape, would likely"ruffle feathers" in both Canberra and Washington as they seek to counter China's influence in the Pacific.
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