Chinese Loans Had Clear Development Impact in Africa: Report

IMF Managing Director Kristalina Georgieva speaking in Marrakesh earlier this week. Image: Fadel Senna / AFP

The adjustment of Chinese lending to Africa and other parts of the Global South in line with changing economic conditions at home will open space for other countries, said IMF Managing Director Kristalina Georgieva.

Speaking at a panel discussion during the IMF and World Bank annual meetings in Marrakesh on Thursday, Georgieva said: “What we’re seeing today is the Chinese actually withdrawing from being the source of financing, and that to a certain degree creates more pressure on countries like Saudi Arabia.”

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by Cobus van Staden

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