Day: July 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 ...
China’s Muted Response Over War in Iran Reflects Beijing’s Delicate Calculus as a Concerned Onlooker
Chinese President Xi Jinping attends the opening session of the Chinese People's Political Consultative Conference (CPPCC), at the Great Hall of the People in Beijing, China March 4, 2026. REUTERS/Florence Lo
By John Calabrese China has perfected the role of concerned onlooker as the Middle East conflict spreads across the region. With no direct role in the conflict and some 6,800 kilometers away from the action, Beijing has a little more ...
COVAX Gets a Shot in the Arm From Chinese Vaccine Makers With a Half a Billion Doses Promised Over the Next Year
The ailing COVAX global vaccine alliance will get some badly-needed support from China's two largest vaccine manufacturers. Both Sinovac and Sinopharm signed advance purchase agreements with COVAX on Monday that will include an immediate rush shipment of 110 million doses followed by an additional 400 ...
India, China Lead The Way in Delivering on Vaccine Promises For Non-COVAX Commitments
With the Delta variant spreading rapidly across much of the developing world with an acute shortage of vaccines, new attention is being focused on the promises that wealthy countries have made to provide jabs compared to what they've actually delivered. The data tracked by the analytics firm ...
Chinese Vaccine Deliveries Close in the Half-Billion Mark With 6% Going to Africa
China has shipped "more than 500 million doses and concentrates to over 100 countries and international organizations, one-sixth of the total global output," according to Chinese Foreign Ministry spokesman Zhao Lijian. Zhao did not provide a breakdown of ...
How to Make Sense of the Raging Debate Over Chinese Vaccine Efficacy
Reuters, Bloomberg, the Wall Street Journal and many other international news outlets have published a stream of stories over the past week that raise a lot of doubts over the effectiveness of Chinese vaccines in developing countries and whether or not they're strong enough to protect against ...
Chinese Ambassador and Egyptian PM Visit Local Factory That Will Produce Sinovac Vaccines
China's ambassador to Egypt Liao Liqiang was accompanied last week by Prime Minister Mostafa Madbouly for an onsite visit of the Egyptian pharmaceutical plant that will serve as a manufacturing hub for Sinovac COVID-19 vaccines. Already, the facility has produced a million doses that will be available for ...
Professor Li Anshan Explains Why is Africa Important to China
With the triennial Forum on China-Africa Cooperation summit that will take place online and in Senegal less than three months away (it will likely occur in September), there's growing speculation as to what will be on the agenda and what that will say about Beijing's evolving priorities ...
The Haval Jolion Highlights The Major Inroads Chinese Cars Are Making in the African Auto Market
The popular South African auto review site cars.co.za just couldn't be more effusive about Great Wall Motors' new Haval Jolion SUV. "Should you buy the Jolion," the online review asked rhetorically, "you’d be silly not to." But the ...
The Fire Next Door
So…How have you been? Since we last spoke, my country exploded. If you’re not up on South African news, the current government has finally managed to get a charge to stick to its predecessor – former president Jacob Zuma. This took ...