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China Gambled When It Lent A Lot of Money to the World’s Poorest Countries. Now Those Bets Are in Real Trouble.

With a growing number of developing countries facing acute debt distress, many to Chinese creditors, Beijing may soon be forced to abandon its long-held policy of refusing to cancel concessional and commercial loans.

Chinese creditors have been aggressively rescheduling billions of dollars of loans to countries in the Global South but with the economic crisis worsening, simply deferring repayments may no longer be enough to stave off default by some borrowers, according to a recent Financial Times report:

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The CAP is passionately independent, non-partisan and does not advocate for any country, company or culture.


A carefully curated selection of the day’s most important China-Africa stories. Updated 24 hours a day by human editors. No bots, no algorithms.


Diverse, often unconventional insights from scholars, analysts, journalist and a variety of stakeholders in the China-Africa discourse.


A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.