Year: 2023
Related Posts
Why Africa Shouldn’t Count on Janet Yellen for Debt Help
U.S. Treasury Secretary Janet Yellen is in Africa touting the Biden administration’s reenergized Africa policy. Her visit comes as several African countries are struggling with debt distress and Zambia and Ghana have officially defaulted. Debt’s prominence as a talking point is somewhat awkward, considering ...
China’s Overseas Development Finance Totaled $10.5 Billion in 2020-21, Lowest in Recent Years
By Rebecca Ray After providing a staggering amount of finance for overseas development projects in the wake of the global financial crisis, Chinese overseas development finance has been on a general downward trend for several years. New data shows the pandemic ...
U.S. Treasury Secretary Blames China for Delays in Zambia Debt Restructuring
U.S. Treasury Secretary Janet Yellen accused China of blocking progress for Zambia's drawn-out debt restructuring process that is now entering its second year. “I know the Chinese have been a barrier to concluding the negotiations,” she said in Lusaka on Monday, the ...
Lavrov Visit and Upcoming Joint Naval Exercises With China Spark Anger in South Africa
The South African government is coming under intense criticism for welcoming Russian Foreign Minister Sergey Lavrov and for next month's joint naval exercises with both Russia and China. SA Foreign Minister Naledi Pandor dismissed the criticism on Monday at a press conference ...
Uganda to Become Africa’s Newest Oil Exporting Country With Inauguration of New Chinese-operated Drilling in Lake Albert
Ugandan President Yoweri Museveni's long-held ambition to export oil via the controversial East Africa Crude Oil Pipeline (EACOP) will move closer to reality on Tuesday when he commissions the country's first new drilling site in Lake Albert. The President will inaugurate ...
Buhari Commissions Port of Lekki, One of China’s Most Consequential Infrastructure Projects in Africa
Nigerian President Muhammadu Buhari officially opened West Africa's largest port facility on Tuesday when he commissioned the new Lekki Deep Sea Port in Lagos State. The opening coincided with the docking of the first cargo vessel, the French-flagged CMA CGM Mozart, to ...
No Blackface in This Year’s Spring Gala TV Show, Actual Africans Performed Instead
The producers of this year's Spring Gala television variety show in China appear to have learned from recent scandals around Chinese actors in blackface appearing in the hugely popular annual Lunar New Year program. Instead, Tanzanian singer Coronia Kila performed on ...
China’s Overseas Development Finance Totaled $10.5 Billion in 2020-21, Lowest in Recent Years
By Rebecca Ray After providing a staggering amount of finance for overseas development projects in the wake of the global financial crisis, Chinese overseas development finance has been on a general downward trend for several years. New data shows the pandemic ...
WEEK IN REVIEW: U.S. Treasury Secretary Janet Yellen on an 11-Day, Three-Nation Tour of Africa
U.S. Treasury Secretary Janet Yellen will leave Tuesday on an 11-day, three-nation tour of Africa that Biden administration officials say is intended to rejuvenate ties on the continent and counter Chinese influence. Yellen will visit South Africa, Senegal, and Zambia, where debt issues are expected to feature prominently on ...
India Supports Sri Lanka’s Debt Restructuring Process
Sri Lanka has reportedly secured India’s support for its debt restructuring process. According to Reuters, an Indian Finance Ministry official sent a message to the International Monetary Fund that it “strongly supports” the debt-ridden country’s economic recovery plan. Indian External Affairs
Dalai Lama Invite Complicates China-Sri Lanka Cooperation
Sri Lanka’s desperate attempts to get China’s support for its debt restructuring could be blown up from the inside. This follows an invitation from senior Buddhist clerics to the Dalai Lama to visit the bankrupt island state. The Chinese embassy was predictably ...
Is the DRC Making Progress in Reshaping Its Controversial Chinese Deals? Maybe.
The Democratic Republic of Congo could be closer to overhauling two controversial Chinese deals. Finance Minister Nicolas Kazadi told Reuters the government is in active talks with Sicomines, a joint venture between the DRC’s state mining company Gécamines, and Sinohydro and China Railway Group, who were supposed to ...