Italy has announced its formal withdrawal from the Belt and Road Initiative after joining the China-centered infrastructure and investment project in 2019.
The timing of the announcement that Rome won’t renew its BRI commitment is notable. It came only a day before the EU-China summit, which kicks off on Thursday. The summit will likely be more contentious than usual, with European leaders expected to push China on the treatment of EU firms amid discussions ...
Day: September 20, 2022
The Mystery of China’s Interest-Free Loan Cancelation: Connecting the Dots
Amid China's controversial role in debt crises from Sri Lanka to Zambia and beyond, the recent cancelation of 23 interest-free loans to 17 African countries caused a lot of misunderstanding, not least because the Chinese government has still not published official lists ...
Kenya’s New President Steps Into Debt Dilemma
Kenya’s new President William Ruto faces a steep debt mountain as he enters office. Servicing the country’s debts consumed 63.5% of tax revenues in the first two months of the current financial, a rate that’s expected to continue next year. For the first time, debt ...
Ruto Decisions Raise Questions About SGR’s Financial Future
Repaying Kenya’s $3.7 billion loan to China for the Standard Gauge Railway is key to Kenya’s broader financial future. However, two decisions by the country’s new President, William Ruto, will make that much harder, raising the danger that the burden could fall on taxpayers. ...
Chinese Communist Party Convenes African Diplomats
Senior officials from the Communist Party of China (CPC) convened a meeting of African diplomats in Beijing on Saturday, highlighting the role of the Party in Chinese diplomacy to Africa. Headed by Liu Jianchao Minister of the International Liaison Department of the CPC’s Central Committee, the meeting ...
China and Nicaragua Discuss Trade, Party Ties
China’s Foreign Minister Wang Yi met with Denis Moncada, his Nicaraguan counterpart, on the sidelines of the UN General Assembly on Monday. The two countries resumed diplomatic relations last year after Managua recognized Taiwan in 1990. They discussed a possible ...
Analysis from Cobus van Staden
Awkward Timing as Italy Withdraws from BRI
Navigating the Belt & Road in SE Asia With a New Digital Toolkit
October marks the 9th anniversary of China's Belt and Road Initiative (BRI) and after all these years, nearly a decade later, many people around the world are still trying to figure out what exactly the BRI is. What is certain, though, ...
Understanding the Significance of China’s Interest-Free Loans Cancelation
By Oyintarelado Moses and Jyhjong Hwang On August 19, 2022, China announced it would waive 23 interest-free loans (IFLs) with maturity by the end of 2021 for 17 unspecified African countries worth an unspecified total amount. This announcement comes as ...