Day: February 16, 2023

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India Thinks It Can Persuade China to Take Big Losses on Its Loans to Poor Countries

The Indian government, in its role as rotating head of the Group of 20, is drafting what will no doubt be a controversial proposal that calls on all major international creditors, namely China, to take large losses on its loans to poor countries.

China Sticking to Its Position That Multilateral Banks and Bondholders Must Also Take Losses on Sri Lankan Debt

The Chinese government re-stated on Wednesday that it will not move forward with the Sri Lankan debt restructuring process unless both commercial creditors and multilateral development banks also agree to accept losses on their loans. Ministry officials told Reuters that Spokesperson ...

Malpass Resignation Could Spark New Battle Between U.S. and China Over His Replacement

World Bank President David Malpass said that he will step down in June, a year before his five-year term expires. Malpass did not provide a reason for his early resignation but speculation in U.S. media is that it's due to his controversial stance on climate change.

China Accuses Philippines of Lying About Laser Strike Against Coast Guard Ship in South China Sea

The feud between the Chinese and Philippine governments over a naval incident in the South China Sea earlier this month intensified when Beijing accused Manila of not telling the truth about what happened. Chinese Foreign Ministry Spokesperson Wang Wenbin did acknowledge on Wednesday ...

Wang Yi Makes Unannounced Visit to Uzbekistan on His Way to Europe

China's top foreign policy official, Wang Yi, made an unannounced stopover in the Uzbek capital of Tashkent to meet with acting foreign minister Bakhtiyor Saidov. After the meeting, Wang then traveled to Paris, where he met with French President Emmanuel Macron as part ...

Analysis from Cobus van Staden

Plugging into African Agency

After several years of declining funding, the African end of the Belt and Road Initiative seems to be roaring back. The newest Griffith University/Green Development Finance Center data on the Belt and Road Initiative shows that engagement with Africa jumped by 395%, while a few big projects boosted engagement in Nigeria alone more than twelvefold.

These shifts indicate a window of opportunity for African electrification. 60% of Africans still lack ...

China, Latin America, and the Rise of a New Non-Aligned Movement

During the first Cold War, a large group of developing countries sought to distance themselves from the ideological battle between the United States and the Soviet Union to create a Non-Aligned Movement. Today, three decades ...