Follow CGSP on Social Media

Listen to the CGSP Podcast

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 ...

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 ...

Analysis from Cobus van Staden

A Chinese Giant’s Complicity in South Africa’s Corruption Disaster

Anyone who knows a South African will be amply aware that the country is currently undergoing economically ruinous rolling blackouts labeled ‘loadshedding.’ Even if you don’t know them, South Africans are liable to follow you down the street, foam-flecked and shouting about Eskom, the corruption-addled state power utility.
The loadshedding scandal is rooted in corruption. It’s only the most visible part of a historical tragedy: how the ruling African National Congress ...

Chinese Contractors Begin Work on One of the DR Congo’s Most Important Roadways

Chinese contractors in the Democratic Republic of the Congo kicked off an upgrade of National Route 1 (RN1), arguably the country's most important highway. It begins in the capital Kinshasa in the far West and snakes 2,000+ kilometers to the southern hub of Lubumbashi. ...

Al Jazeera: UAE Providing Ethiopia Use of Chinese Made Wing-Loong II Drones

Recent gains by Ethiopian government troops in pushing back Tigrayan opposition forces may have been helped by the use of sophisticated unmanned aerial vehicles (UAVs) from Turkey, Iran, and China, according to satellite photos seen by Al Jazeera. The role of the ...

U.S., European News Outlets Fail to Question Pentagon Assertion China Wants to Build Atlantic Base in Africa

The Wall Street Journal's report from December 5th that relayed Pentagon concerns about China's purported ambition to build a navy base on Africa's Atlantic coast in Equatorial Guinea has now spread so far across the media landscape, even to usually discerning publications ...

Ebola Fighters is a Hit With Chinese Viewers

A big-budget drama about Chinese medical teams working in a fictitious West African country during the 2014 Ebola outbreak is a huge hit with viewers in China.  The first two episodes of "Ebola Fighters" drew 16 million viewers and was the fourth most-popular drama ...

Don’t Worry Africa… China Isn’t Going to Seize Your Assets, But They’re Also Not Going to Forgive Your Debts

There is a sense of anxiety over Chinese debt in several African countries and beyond. From Zambia to Kenya, Uganda, and now even in the small Balkan country of Montenegro. Repeated assurances from China and borrowing countries that the debt situation is under ...