Day: February 11, 2020
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The Bondholders’ View of the African Debt Crisis
The ongoing debt crisis in Zambia and several other African countries is proving to be much more difficult to resolve than in previous years because of the expanded role of both Chinese lenders and bondholders. Both of these creditors have starkly ...
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Critical Zambian Bondholder Vote to Take Place Today
A coalition of Zambian bondholders is expected to cast their votes today (Wednesday) to decide on whether or not to grant the government a six-month repayment holiday on $3 billion of Eurobond notes, according to sources quoted by Bloomberg. Results are scheduled to ...
COVID Vaccine Narrative Battles Intensify Following Pfizer Announcement
A narrative battle over COVID-19 vaccines is emerging in the aftermath of this week's announcement by Pfizer that its vaccine is reportedly 90% effective. That news also coincided with an interruption of a Chinese-made COVID vaccine clinical in Brazil ...
COVID-19 Tops the Agenda at China-Gulf Countries Foreign Minister Meeting
Chinese Foreign Minister Wang Yi met with six of his counterparts from the Gulf Cooperation Council on Tuesday for a virtual conference, where COVID-19 was atop the agenda. The ministers focused on access to a future C19 vaccine as well as PPE and other pandemic mitigation resources. ...
All This Talk About Vaccines Gives a Desperately-Needed Boost to Two of Africa’s Largest Oil Producing Countries
The prices for Nigerian Bonny Light and Angolan Cabinda crudes have regained some lost ground in November thanks to the Pfizer vaccine news and the U.S. elections. Given that both countries face enormous debt servicing challenges, these higher oil prices will help to replenish government coffers. China ...
Fishermen conduct abalone management and protection operations at sea in the waters of Xiaocheng Town, Lianjiang County, Fuzhou City, Fujian Province, China, on March 14, 2026. (Photo by Costfoto/NurPhoto) (Photo by CFOTO / NurPhoto / NurPhoto via AFP)
"China's financial commitments are simply more tangible and easier to grasp than those of Europe," one delegate from an island state remarked to me on a bright spring day in late March, as we both gazed out at the East River from the United Nations Headquarters. Behind us, in airless ...
Tweet of the Day: African Expatriates in China Join the Frontlines to Help Contain Coronavirus Outbreak
University of Oslo China-Africa scholar Heidi Østbø Haugen shared a compelling image on Twitter yesterday of an increasingly common theme that we've been seeing recently in Chinese state-run ...
Everything’s Still OK For Now Warns South African Economist… Coronavirus-Induced Economic Pain is Coming
The more that the free movement of people and goods between South Africa and China shuts down due to the coronavirus outbreak, the great the threat to the South African economy, warned Nedbank economist Walter de Wet on Monday. A lot ...
New Study: African Countries Among Most at Risk to Economic Consequences of Coronavirus Outbreak
A new study published today by the London-based think tank Overseas Development Institute explores the economic impact of the burgeoning coronavirus outbreak in China on those countries around the world with the highest levels of exposure to the Chinese economy. Not surprisingly, many of ...
Economic Shockwaves from the Coronavirus Crisis in China Are Now “Battering” Africa: Investment Firm
Even though Africa has so far been spared an outbreak of Novel Coronavirus, economies across the continent are beginning to grapple with the costly implications for what this viral contagion is doing to their largest trading partner and overall demand for the raw materials that most African ...
How Can the International Community Help Africa to Combat Novel Coronavirus?
Africa is at risk of an outbreak of coronavirus, even if, so far, there are no confirmed cases of the virus. Several days ago, the World Health Organization declared that a coronavirus outbreak as a “Public Health Emergency of International Concern (PHEIC)”. Tedros Adhanom, Director-General of ...
Ethiopian Airlines CEO: Stopping Direct Flights to China is Not an Option
It looks increasingly unlikely that Africa's largest airline, Ethiopian Airlines, will join most other African airlines and temporarily halt direct flights to China due to the coronavirus outbreak. While six of eight African carriers have stopped flying to China out of fear of transporting passengers infected with the ...
China and Rwanda Sign Loan Deal for New Hydroelectric Power Plant
The China Exim Bank will provide a $214 million concessional loan to Rwanda to build the 43.5mw Nyabarongo II power plant in the southern Muhanga District, according to a report in industry news site Energy Voice. The deal also includes a substation and a 110 Kv ...