In the face of suggestions that the recently signed Memorandum of Under-standing (MOU) on the Belt and Road Initiative (B&RI) could render Guyana indebted to China, Minister of Foreign Affairs Carl Greenidge, says it is not a loan agreement but merely represents an intention embraced by the two States.
China’s Belt and Road initiative (B&RI), launched by the Chinese Government in 2013, aims to enhance the orderly free-flow of economic factors and the efficient allocation of resources, according to a press release from the Ministry of Foreign Affairs. Its intention is to further market integration and create a regional economic cooperation framework, a move which has been widely criticized as one to ensure global market dominance by China.
