Day: May 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 ...
