Day: August 20, 2022
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One of China’s Top Africa Diplomats in Ghana Just as Debt Crisis Unfolded
One of China's most senior Africa diplomats, Special Representative Liu Yuxi, was in Ghana on the same day the country's finance ministry announced it would suspend debt repayments to external creditors. Liu appears to be on a regional tour of West Africa , so ...
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Zambia’s President Hichilema Clarifies Chinese Loans’ Role in Debt Crisis
As Ghana sinks into debt distress, many are looking to Zambia’s debt restructuring process for clues on how China will feature. Zambia’s President Hakainde Hichilema provided a glimpse into his government’s thinking about Chinese debt at a Council on Foreign Relations event ...
It’s China, Not Africa That Could be Facing a Debt Trap: Report
At 12% of Africa’s total external debt, China didn’t cause the current wave of debt distress hitting the continent. But the crisis presents Beijing with a dilemma: should it strongarm these countries to get its money back or trade economic losses for diplomatic gains? ...
New Report Debunks Chinese Debt Trap Narrative in Sri Lanka
The Chinese debt trap narrative was started based on the purported surrender of the Port of Hambantota in Sri Lanka. When Colombo fell behind in its payments to the China Exim Bank for the loan, the story goes, Beijing seized the ...
Is the U.S. Comparative Advantage in Engaging with Africa Enough for U.S.-Africa Relations?
By Oyintarelado Moses The U.S. showed off its comparative advantage in engaging with Africa during the Africa and Diaspora Young Leaders Forum at last week’s U.S.-Africa Leaders Summit. While sitting in the audience, I observed as the first African American Vice ...
Wang Yi, China's Foreign Minister and S. Jaishankar, Minister of External Affairs of India
In the space of 24 hours, between Sunday and Monday, the foreign ministers from both China and India laid out their respective governments’ positions on the escalating war in the Middle East. In Beijing, China’s top diplomat, Wang Yi, was unsparing in his criticism of ...
How Will the Debt Crisis Affect China’s Image as a Development Partner?
By Lukas Fiala As the debt crisis across the Global South accelerates, many commentators are weighing in on the drivers and implications of repayment difficulties and defaults. Unsurprisingly, as a major bilateral creditor to many governments across the developing world, China is ...