Day: June 22, 2020
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Bloomberg Asks Zhao Lijian the $4 Billion Dollar Question About Its Zambian Loans: “Will China Opens Its Books?”
Foreign Ministry spokesman Zhao Lijian faced questions yesterday by a Bloomberg reporter as to whether Beijing would do more to help alleviate investor concerns over the lack of transparency of China's loans to Zambia. Zhao echoed a brief comment published on ...
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New AidData Research Explains Why China Isn’t Fully Participating in the DSSI and Not Interested in Seizing Assets
Bradley Parks, executive director of AidData, discussed the preliminary findings of a new investigation into the terms and conditions of Chinese loan contracts around the world. AidData researchers studied 83 Chinese loan contracts to 21 low-and-middle income countries. The contracts involved the ...
U.S. Government Targets African Twitter Users With Paid Campaign Criticizing Chinese Fishing Practices
Senegal-based freelance journalist James Courtright noticed an interesting paid tweet from the U.S. government's official French language account that appeared in his feed this week. The "promoted" post (that means "paid" in Twitter's vernacular) attacked China's distant fishing operations around the world: ...
Wow! Whoever’s in Charge of the Chinese Embassy in Somalia’s Twitter Account Really Went on a Tear
In the space of two hours yesterday, the social media manager at the Chinese embassy in Somalia published an impressive 32 tweets in what was a disjointed stream of Chinese propaganda's greatest hits. They covered a lot of ground:Alleviating Chinese ...
When It Comes to the G20’s DSSI, China’s Playing by a Different Set of Rules
There's an enormous disconnect between how the Chinese are approaching the debt crisis in poor countries and the expectations of the world's legacy donors. People like World Bank President David Malpass seem befuddled as to why China is not fully supporting ...
File image of the Coca Codo Sinclair dam in Ecuador that was financed and built by China. Image via amalavida.tv CC BY 2.0
By Julie Radomski Ten years after the Coca Codo Sinclair hydroelectric dam first came online, the Chinese state-owned construction company Sinohydro Corporation finally turned the project over to the Ecuadorian state last Friday. Yet Ecuador only agreed to accept it under the condition that ...
A Chinese Debt Trap in Nigeria? Hardly!
Back in May, the online Nigerian financial news site Nairametrics ran an article with the frightening headline: "Nigeria is falling into China’s debt trap." This, of course, is nothing new. Many Nigerians, along with countless others across Africa, now firmly believe that China ...
One of the First Classes of Nigerian Railway Engineers Graduates From University in China
One of the first classes of Nigerian railway engineers graduated this weekend from China's Central South University (中南大学）in Hunan and will soon return to help manage the new Chinese-built railways back home. ...
CARI Slides From Last Week’s Presentation Now Available Online
If you missed last Thursday's webinar by the China-Africa Research Initiative (CARI) at Johns Hopkins University about Chinese debt relief in Africa, the slides used in the presentation are now available online. Since CARI's data and analysis on the Chinese debt ...
Ed Cropley: China is Caught in a Zambia Debt Trap
Contrary to widespread perception, Zambia is not ensnared in any kind of Chinese debt trap, argues Reuters Breakingviews columnist Ed Cropley in a recent op-ed video published on the news agency's YouTube channel. Quite the opposite, in fact. If anyone's caught ...
Lots of Confusion Over Nigeria’s Debt Profile
Washington, D.C.-based Eurasia Group Africa Practice Director Amaka Anku sought to clarify a key point of confusion that emerged last week, when the Nigerian Ministry of Finance released a report stating that the country's debt servicing costs was equivalent to all of the revenue generated by the ...
Debt Trap? What Debt Trap? Nigeria Doesn’t Borrow Anywhere Near Enough From China to be Caught in a Trap Says Government
Amid all of the talk of Chinese debt traps and moves by Nigerian legislators to review the past 20 years of loan contracts with China, the country's Debt Management Office (DMO) in Abuja wants to clarify a few things. The DMO on Friday published a short statement ...
Kenyan Government’s Hiring of the State-Owned Chinese Company Used to Build the SGR Ruled Illegal by Court of Appeals
Kenya's Court of Appeals dealt a devastating blow to the government and its national rail company when it ruled on Friday that the $4.7 billion (Ksh 500 million) contract with the state-owned China Road and Bridge Corporation (CRBC) was illegal and violated the constitution. ...