Montenegro in ‘final phase’ of talks with Europe to refinance debt to China

A European state financial institution is ready to refinance US$809 million of Montenegro’s debt to China, allowing the tiny Adriatic republic to make savings and cut interest rates, the country’s finance minister said on Thursday.China sees the Western Balkans, which includes Albania, Bosnia, Kosovo, North Macedonia and Serbia, as well as Montenegro, as part of its Belt and Road Initiative to expand Chinese influence.Beijing has invested billions in the region, mainly through soft loans in…