A bill currently under consideration in New York State could reshape sovereign debt renegotiations around the world by making private creditors accept the same losses as the U.S. government would as a sovereign creditor instead of holding out for a full payback.
The bill comes as countries like Zambia and Sri Lanka face their loan renegotiations being dragged out for years as U.S.-based private lenders stonewall to obtain better deals. 52% of the ...
Day: September 21, 2022
Ecuador is the Latest Developing Country to Restructure Chinese Debt
The Ecuadorian government announced a major debt restructuring deal with China's two largest policy banks that will provide $1.4 billion of debt service relief over the next three years. President Guillermo Lasso said his administration reached an agreement this week ...
Security, Trade Top Agenda During Wang Yi’s Meeting With Gulf Ministers in New York
Chinese Foreign Minister Wang Yi met on Tuesday with a group of six ministers from Persian Gulf countries and the General Secretary of the Gulf Cooperation Council (GCC), Nayef Al-Hajraf, for a wide-ranging session on trade and security issues.
Day Two of Wang Yi’s Speed-Dating Diplomacy in New York
Chinese Foreign Minister Wang Yi is taking full advantage of his time in New York to cram in as many meetings with his counterparts, mostly from developing countries, as possible. Wang, who is known for this kind of fast-paced diplomacy, met ...
Chinese Horn of Africa Special Envoy Arrives in Sudan For Two Days of Talks
China's point man for diplomacy in the Horn of Africa, Xue Bing, landed in Khartoum on Tuesday for two days of talks. Shortly after he arrived, Xue met with Ministry of Foreign Affairs Undersecretary Daffallah Al-Haj Ali. No specific ...
China’s Special Rep For Africa Wraps Up Visit to Cameroon
One of China's top diplomats for Africa, Liu Yuxi, concluded a three-day visit to Cameroon on Tuesday following talks with Chinmoun Oumaru, the Secretary General of the Ministry of External Relations. Liu, the Foreign Ministry's Special Representative for African Affairs, is currently touring the continent. Earlier, he ...
Analysis from Cobus van Staden
Proposed New York Law Could Reshape Debt Negotiations Around the World
Chinese Smartphone Giant Oppo Readies For Brazil Debut
Chinese smartphone giant Oppo, the world's fourth largest, is in final preparation before launching in South America's largest consumer market. Oppo will debut its Reno 7 model next Monday as part of the kick-off. Even for a company ...