Day: January 13, 2021
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Zambia’s Bondholders Want More Info on IMF Deal, Renew Calls For All Creditors to be Treated the Same
Some of Zambia's bondholders are once again expressing impatience with the government's handling of its debt relief talks and they've gone public with their longstanding demands for greater transparency in the process and equal treatment for all creditors. "Inter-creditor equity should ...
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Incompetence, Inexperience to Blame For China’s Bad Loans in Global South, More Than Any “Plot to Enslave Poor Countries,” Argues Professor
The prominent expert on Chinese finance, Michael Pettis, is the latest scholar to challenge the popular narrative that China engages in predatory lending abroad. Instead, the Peking University professor attributes the surge of Chinese loans to less developed countries on "inexperience" and "bad lending practices."
Kenya Caught in a Potentially Dangerous Loan Repayment Cycle Due to Its SGR Debts to China
There's growing concern that the depreciating value of the Kenyan currency is tied to the country's mounting debt servicing costs to Chinese creditors. Back in July, the Kenyan Treasury began repaying the loans used to build the Standard Gauge Railway after the China Exim Bank refused the ...
China’s Ambassador to Uganda Tried (Again) to Settle the Entebbe Airport Seizure Controversy
The Chinese and Ugandan governments collaborated in what appears to be an effort to jointly refute last month's Daily Monitor story that falsely claimed the Entebbe Airport would be seized by China as part of a debt default. Ambassador Zhang Lizhong led ...
Two Years Late, Lagosians Want to Know Where’s Their New Chinese-Built Airport Terminal
Work on the new international terminal at Murtala Muhammed International Airport in Lagos is almost done. In fact, China Civil Engineering Construction Corporation (CCECC) says it's 95% finished. Yet, the new facility is still not open and that has people in Nigeria's largest city asking what is going ...
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 ...
Algeria Becomes First African Country to Register Russia’s Sputnik V Vaccines While Indonesia Becomes the First Country to Deploy China’s CoronaVac
A growing number of developing countries are beginning to mobilize their vaccination campaigns using jabs mostly from China and Russia. In Southeast Asia, where Chinese Foreign Minister Wang Yi is currently on a week-long four-nation tour, the vaccine issue is the top story.
As Angola Gets Debt Relief From Its Creditors, Kenya Hopes For the Same From China
Yesterday marked the first major development we've seen on the debt story in Africa in quite some time. The fact that Angola was the beneficiary was significant, given its outsized position in China's loan portfolio on the continent. Angola alone makes ...
The Team at Boston University Provides a Fresh Reminder That the World’s Chinese Debt Problem is Concentrated in About 10 Countries
Boston University's Global Development Policy Center published a new infographic that reveals the unequal distribution of Chinese debt around the world. They found that 10 countries account for 60% of China's global development finance. This is especially true in Africa where Angola ...
With New Lockdowns in South Africa Threatening to Slow Cobalt Exports to China, Prices For the Strategically Important Metal Are Going Up
Investors are becoming increasingly worried that South Africa's recent decision to close 20 land ports will adversely impact the flow of cobalt from mines in the DR Congo to customers in China. President Cyril Ramaphosa on Monday announced a series of new lockdown measures in an effort ...
China Evolves Its Language That Frames Its Engagement in Africa
The China Media Project (CMP), an independent research organization affiliated with the Journalism & Media Studies Centre at the University of Hong Kong, published an interesting analysis today on how Chinese propaganda is evolving the language (in Chinese) used to ...
China’s Vaccine Push in Developing Countries Suffers Setback After Brazillian Tests Reveal Sinovac’s Shot Only 50% Effective
China's ambitious global drive to provide developing countries with affordable COVID-19 vaccines suffered a major setback on Tuesday following new test results from Brazil that revealed Sinovac's CoronaVac vaccine to be only 50% effective. The findings from the ...