Canada is freezing ties with the China-led Asian Infrastructure Investment Bank (AIIB) while it probes allegations it is dominated by the Chinese Communist Party, Finance Minister Chrystia Freeland said on Wednesday.
Freeland said she did not rule out any outcome of the investigation, a clear hint that Ottawa could pull out of a bank it officially joined in March 2018.and criticized the bank
"The Government of Canada will immediately halt all government led activity at the bank. And I have instructed the Department of Finance to lead an immediate review of the allegations raised and of Canada's involvement in the AIIB," Freeland told reporters. "The review I am announcing today is to be undertaken expeditiously. And I am not ruling out any outcome following its completion," she said.
Liberal Prime Minister Justin Trudeau was in power when Canada joined the AIIB. The opposition Conservatives have long demanded Ottawa pull out of the bank, saying it is a tool for Beijing to export authoritarianism throughout the Pacific.
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