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    Grenada sued for $21 m after defaulting on loans from Taiwan bank

    The Government of Grenada has become the latest impoverished nation to suffer the economic consequences of switching diplomatic allegiances from Taiwan to China.
    The Export-Import Bank of The Republic of China, a Taiwan-based, state-owned specialized bank for export and import credits, is seeking the recovery of $21.6 million, plus interest at $5,761 per day, at the U. S. District Court for the Southern District of New York regarding four loans that are in default.