Chinese loans to Latin America plunge as virus strains ties

FILE – In this Dec. 12, 2018 file photo, Ecuador’s President Lenin Moreno, right, and Chinese President Xi Jinping review an honor guard during a welcome ceremony at the Great Hall of the People in Beijing, China. In 2020, Ecuador negotiated to delay for a year nearly $900 million in debt payments serviced by oil shipments, and in 2021 the U.S. International Development Finance Corporation signed an agreement with Ecuador to finance up to $2.8 billion in infrastructure projects, money that it said could be used to “refinance predatory Chinese debt.”