China, Latin America’s big lender

As the prices of oil, minerals, and other exportable commodities fall, Latin America’s economies have had to go looking for alternatives that will help them avoid a possible crisis. China has been a big help, not only for its packages of financing at very favorable rates and terms, but also by not making them conditional on structural reforms in exchange for economic aid, as western lenders have traditionally done. Venezuela and Argentina, with their records, have been the biggest beneficiaries of this credit flexibility.
According to the non-governmental organization Inter-American Dialogue:

During 2014, China’s state banks loaned $22.1billion to Latin American countries.
Over the last 10 years, they have loaned the region $118 billion. Of this total, Venezuela received $56.3 billion, or almost half of those loans.
In 2015, it is expected Latin America will receive between $25 and $30 billion.

Source: Inter-American Dialogue
 

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