Day: September 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 ...
Wang Yi, China's Foreign Minister and S. Jaishankar, Minister of External Affairs of India
In the space of 24 hours, between Sunday and Monday, the foreign ministers from both China and India laid out their respective governments’ positions on the escalating war in the Middle East. In Beijing, China’s top diplomat, Wang Yi, was unsparing in his criticism of ...
Rethinking China’s Participation in African Agricultural Development in the Post-COVID-19 Era
This article was co-authored by Duncan Chando, a Nairobi-based international development consultant Africa was already facing food insecurity and agricultural underdevelopment prior to COVID-19. In 2018 studies showed that Sub-Saharan Africa was the world’s most food-insecure region, hosting 239 million ...
China-Africa Trade Update with Walter Ruigu
Two-way China-Africa trade fell sharply in the first half of the year to $82 billion, down 20% from the same time last year. Trade between the two regions has been severely disrupted by the COVID-19 pandemic and the ...