Day: August 1, 2022

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Chinese Creditors Agree to Landmark Debt Restructuring Deal With Zambia

The Franco-Chinese-led Creditor Committee for Zambia announced a landmark agreement over the weekend to cancel $2 billion of the country's bilateral debts. The deal includes unprecedented concessions from a coalition of Chinese lenders that includes the China Exim Bank. Saturday's announcement also ...

Zambia Slashes Billions of Unused Loans, Many From China, to Address Debt Woes

Beyond the statements issued by the Zambian Creditor Committee (via the G20), the Ministry of Finance, the World Bank, and the IMF, very few specifics about the arrangement have been made public. There's much speculation about what loans will be canceled and which projects will be directly impacted.

Blinken Heads to Southeast Asia and Africa With an Eye on Russia, Not China

United States Secretary of State Antony Blinken will begin a nine-day, five-nation tour in Asia and Africa on Tuesday, with the first stop in Cambodia for two days of ASEAN meetings with Southeast Asian foreign ministers. He'll then head to the Philippines before departing for Africa later in ...

China, Kenya Cut the Ribbon on Hugely Important Infrastructure Financing Experiment

Kenyan President Uhuru Kenyatta, together with Ambassador Zhou Pingjian, officially commissioned the $650 million Nairobi Expressway on Sunday. The project is gearing up to be the most important infrastructure financing test underway in Africa today. The 27-kilometer expressway was built and ...

Finally! Kenyan Avocados Make It to China

The first batch of Kenyan avocados will soon appear on store shelves in Shanghai. This follows last week's arrival of the fruit after more than three years of prolonged, often difficult negotiations. All of the negotiations, testing, and certifications are done, and now ...

Analysis from Cobus van Staden

How to Lure Chinese Financing Back to the Global South: Report

Global South countries face increasing financing pressure, endangering their ability to keep developing while also implementing measures to deal with a growing climate crisis. The disruption of global trade is coupled with a larger megatrend: flows of international capital to the developing world have turned negative. This means that countries are now routinely paying more to service loans than they receive in disbursements.

The vast majority of Global South borrowers ...

China Should Leverage Its Strengths in Development to Compete With the U.S. in the Middle East, Says Leading Expert

U.S. President Joe Biden's recent visit to Israel and Saudi Arabia put Great Power competition with China in the Middle East into sharp focus. But one of China's leading Mideast scholars, Fan Hongda, a professor at the Middle East Studies Institute of Shanghai International ...