Former Tongan Finance Min speaks out on debt to China

China is becoming the new banker to the Pacific Islands, pushing up debt levels and increasing its political leverage, according to a report to be released by the Sydney-based Lowy Institute today.

One man who is very well placed to assess the scale of the problem with debt to China in the region is Tonga’s Former Finance Minister, Josh Utoikamanu.

Before becoming Finance Minister in 2001, he spent a decade at the helm of Tonga’s National Reserve Bank, and he is now an international consultant working with a range of international organisations, including the Asian Development Bank.

via Radio Australia:Pacific Beat:Story:Former Tongan Finance Min speaks out on debt to China.