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

by Eric Olander
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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