There’s Growing Concern in the U.S. That Debt Relief for Africa and Other Developing Regions Would Just Help China

There is mounting concern in the United States that calls for debt relief from Africa and other developing regions that have been hit hard by COVID-19 and the subsequent economic crisis will only help those countries to pay back loans to China.

A group of U.S. Senators led by Banking Committee Chairman Mike Crapo and Finance Committee Chairman Chuck Grassley wrote a letter last week to Secretary of the Treasury Steve Mnuchin and Secretary of State Mike Pompeo that any financial assistance should also include disclosures of a country’s debts to China or other legal obligations as part of Beijing’s Belt & Road Initiative.

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by Eric Olander

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