The main story from this year’s FOCAC, at least according to Bloomberg and the Financial Times, is that “debt traps” and “debt concerns” prompted China to scale back the size of its financial assistance package.
The narrative that’s emerging in these two publications is that the $40 billion package announced this week is a third less than the $60 billion commitment made at the previous two FOCACs in Beijing and Johannesburg, and debt sustainability is the main reason for the curtailment.
- Get a daily email packed with the latest China-Africa news and analysis.
- Read exclusive insights on the key trends shaping China-Africa relations.
- Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.