"Myanmar’s auditor general in a startling announcement has cautioned government officials about continued reliance on Chinese loans both pre-BRI and BRI loans that come with high rates of interest. Myanmar's current national debt stands at about $10 billion, of which $ 4 billion is owed to China, Auditor General Maw Than told a news conference in Naypyidaw on Monday. This can push Myanmar to debt trap like Sri Lanka and some African states. "The truth is the loans from China come at higher interest rates compared to loans from financial institutions like the World Bank or the IMF [International Monetary Fund]," he said. "So, I would like to remind the government ministries to be more restrained in using Chinese loans." The country has to repay as much as $500 million annually to China in both principal and interest. Analysts have pointed out that Myanmar’s involvement in China’s Belt and Road Initiative (BRI) meant that it continued to take new debts to finance its huge infrastructure projects..."