Day: May 27, 2020
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It’s Not All Gloomy
The last few weeks have been marked by a pervasive gloominess about Africa's future. As Zambia was defaulting on its Eurobond debt, the G20 was praising itself effusively for coming up with a debt response unlikely ...
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China’s Role in Africa’s Economic Transformation
Over the past 20 years China has played a pivotal, arguably indispensable role in Africa's economic development. China is by far Africa's largest bilateral trading partner, a major source of foreign investment and a vital player in helping Africa to close ...
18 Days and Counting Until Zambia’s D-Day (aka Debt Day)
In less than three weeks, a group of Zambian bondholders, mostly in New York and London, will reconvene to vote on whether or not to approve Lusaka's request for a six-month repayment holiday on about $3 billion of Eurobond notes that are coming due. ...
Zambia Stands to Benefit From Rising Copper Prices Due to Heightened Chinese Demand
While Zambia tries to figure out how if/how it plans to restructure its $12 billion debt portfolio, government coffers stand to benefit from resurgent copper prices, a major source of export earnings. The price of copper recently ...
Analyst: Zambia Owes More Than Double the $12 Billion to China and Other External Creditors
Zambia owes $27 billion to external creditors rather than the $12 billion figure that is widely circulated in the media, according to Brad Setser's reading of World Bank data on external debt. Setser, a senior fellow at the Council on Foreign Relations in New York, explained in ...
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 ...
Skepticism About The Heritage Foundation’s Recent Report on Alleged Chinese Spying in Africa
China's political attaché at its embassy in Lesotho echoed doubts raised by journalism fellow Thuso Mosabala about the lack of on-the-record sourcing in The Heritage Foundation's recent report "Government Buildings in Africa Are a Likely Vector for Chinese Spying" by analyst Josh Meservey. ...
Video: Chinese COVID-19 Aid and Medical Teams Are Becoming Increasingly Visible in Africa
The video team at the South China Morning Post in Hong Kong assembled a short overview of the increasingly visible Chinese medical team deployments and COVID-19 donations across Africa. https://www.youtube.com/watch?v=g1pB2PcGzVs&feature=emb_title ...
Chinese Commerce Ministry Researcher Offers Vague Clues About How China May Approach Debt Relief in Africa
Chinese officials have offered no specifics as to how they plan to renegotiate the terms of their $152 billion loan portfolio in Africa. Other than a few general statements from Foreign Minister Wang Yi or spokesman Zhao Lijian about Beijing's ...
As Enthusiasm in Africa For the G20’s Debt Relief Plan Fades, Attention Turns to What China Will do
The G20 and Paris Club debt relief proposal for Africa is encountering headwinds as a more and more countries are becoming increasingly wary of the terms of the deal. The key sticking point is a requirement that if an African country wants to qualify for the G20/Paris ...
Why Does Nigerian Representative Ben Rollands Igbakpa Want to Review Almost 20 Years of Loans From China?
Earlier this month, on May 13, Nigerian representative Ben Rollands Igbakpa introduced a motion that was passed by the House calling for an investigation into all of the country's loans from China dating back to 2000. Representative Igbakpa ...
China to Finance and Build a Massive New Coal Power Plant in Zimbabwe
The Zimbabwean government announced last month that construction of the new $3 billion Sengwa coal power plant will proceed after years of negotiation. The new 2,800 megawatt plant will be a joint effort between ...