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10 Issues That Will Shape China-Africa Relations in 2021

1. VACCINES: With the U.S., EU on the Sidelines, China's Vaccine Distribution in Africa Could Produce Huge Geopolitical Dividends China is building a COVID-19 vaccine distribution pipeline in Africa including a cold-chain air bridge from Shenzhen, a distribution hub in ...
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G20 Wraps Up Summit With Lots of Promises But Very Little Concrete Action on Debt Relief

Debt relief for the world's poorest countries was high on the agenda at this weekend's Group of 20 summit organized by Saudi Arabia. The conference ended on Sunday with what's become standard promises to expand its Debt Service Suspension Initiative (DSSI) and calls ...

China Claims It’s Done More to Relieve Developing World Debt Than Any Other G20 Member

Chinese Finance Minister Liu Kun provided a robust defense of Beijing's participation in the G20's Debt Service Suspension Initiative and said his government is doing more than any other in the group in providing billions of dollars of debt relief to the world's poorest countries.

China and the G20’s New “Common Framework” For Debt Relief

One of the highlights from the latest G20 summit was the group's endorsement of a so-called "common framework" that would create a set of standards for countries not eligible for the Debt Service Suspension Initiative (DSSI). Officials at the U.S. Treasury who championed the idea said the ...

Dissecting the Zambian Debt Crisis and What Role China, Private Creditors Played

One week after Zambia failed to meet a deadline to repay $42.5 million on some of its Eurobond debt, African and international media are examining what went wrong and who precisely is to blame. In an appearance ...
China Pins Hopes on Society-Wide AI Push to Add Jobs, Rejuvenate Economy
A child shakes hands with a robot during the World Artificial Intelligence Conference (WAIC) in Shanghai on July 28, 2025. (Photo by Hector RETAMAL / AFP)
By Laurie Chen China's scramble to adopt artificial intelligence will spawn new jobs and propel the world's second-largest economy, say policymakers and company executives, as they play down growing global fears that the technology could stunt employment. Plans unveiled ...

Zambia Becomes the First African Country to Default on Its Debt Since the Outbreak of COVID-19

The day that many African policymakers had long feared since the outbreak of COVID-19 earlier this year is now here. Zambia yesterday said it will be unable at this time to repay the interest on three Eurobonds, totally around $3 billion, and will effectively have to default ...

Reaction to Zambia’s Eurobond Debt Default

News of Zambia's request to postpone payments on three Eurobond notes prompted immediate reactions from stakeholders in the financial services sector, economic policymakers and journalists.  Here's a sampling of the reactions on Twitter: "Sad. It’s important to remember that (a) Zambia’s ...

Contrary to Popular Perception, Zambia’s Debt Problem is With Global Capital Markets Not China

Although China is by far Zambia's largest bilateral creditor, the total amount owed to Beijing is less than what Lusaka has to pay to Eurobond holders and various other private creditors. The outlook for 2022 is especially dire because sizable Eurobond repayments are due. ...

This is What Happens When an African Country Says It Can’t Repay Bondholders on Time

From the beginning of the COVID-19 economic crisis in Africa, African ministers have said repeatedly that they want to do everything possible to avoid a default on their commercial debt. Yesterday's announcement by the Zambian government that it will delay repayments ...

As Eurobond Investors Boo Zambia, They’re Now Cheering For Angola

While Zambia is getting pummeled by investors for signaling that it'll have to delay some Eurobond repayments, Angola is enjoying the opposite following bold reassurances from Osvaldo Joao, the state secretary for finance. "“We will always pay,” he told Bloomberg on Monday. ...

Ethiopia’s Ambassador to the U.S. Renews Urgent Plea for African Debt Relief

Ethiopia's envoy to the United States, Fitsum Arega, used the occasion of the United Nations 75th anniversary to renew a plea for urgent African debt relief that was first issued by Prime Minister Abiy Ahmed on March 24th.

Uganda’s National Debt Surged 21% to Offset the Downturn Brought on by COVID-19

The Ugandan government has significantly increased its borrowing in a bid to help mitigate the financial impact of the ongoing economic crisis brought on by the COVID-19 pandemic. The Central Bank on Tuesday said that in the period from June 2019 to June 2020, borrowing increase by ...

China and the Burgeoning African Debt Crisis

Over the last week we've reached two critical milestones that put the worsening African debt crisis into sharp focus: First, the good news. Angola appears to have reached an agreement with some of its major creditors at the International Monetary Fund ...
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