Prime Minister Rejects Claims China Engages in Predatory Lending
Monday 15th April, 2019-Prime Minister Gaston Browne has rejected criticisms that the government of the People’s Republic of China is engaged in predatory lending.
Predatory lending it is stated benefits the lender and ignores or hinders the borrower’s ability to repay the debt. These lending tactics often try to take advantage of a borrower’s lack of understanding about loans, terms or finances and lenders typically target minorities and the poor.
The head of government speaking at a handover ceremony for the new Community Centre in the Grays/Green area said from his country’s perspective, he has found the accusations to be untrue.
Prime Minister Browne says other countries and organizations pale in comparison to the generosity of the People’s Republic of China in the area of loans and grants.
The prime minister detailed that when his government takes positions, they are not personal, but are designed to bring better opportunities to Antigua and Barbuda.