Associated Press: Report: Chinese loan terms hamper post-virus debt talks

From the article:

State-owned Chinese banks, unlike most official lenders, require foreign borrowers to keep terms and sometimes even the existence of loans secret, according to the researchers at the College of William and Mary in Virginia, Germany’s Kiel Institute for the World Economy and the Peterson Institute for International Economics and the Center for Global Development in Washington.

Chinese banks insist on being repaid ahead of other creditors, which can disrupt debt talks with groups of lenders, their report said. It said borrowers are required to put oil or other revenue into foreign accounts that can be seized in the event of default.