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Top U.S. Treasury Official Issues Veiled Warnings to African Countries About the Risks of Borrowing From China

File image of U.S. Deputy Secretary of Treasury Wally Adeyemo. JOHANNA GERON / POOL / AFP

Deputy U.S. Treasury Secretary Wally Adeyemo repeated longstanding warnings to African ministers about the dangers of borrowing from China in a virtual speech before the Conference of African Ministers of Finance, Planning and Economic Development that’s taking place in Dakar, Senegal this week.

In what’s become standard practice among many high-level U.S. officials, Adeyemo never mentioned China by name but it was nonetheless evident who he was referring to:

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