Follow CGSP on Social Media

Listen to the CGSP Podcast

Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors

Source: International Debt Statistics (IDS) database • Data shown as average yearly debt service payments, over a given period. The projections are from the IDS database, based on debt outstanding and disbursed as of end of December 2022. China includes repayments to official and private creditors in China.

Developing countries spent a staggering $294 billion to service their debts in 2022, a figure that’s expected to balloon by a third this year, according to the findings of a new report published by the UK NGO ONE Campaign.

While China is often singled out for its outsized role in the ongoing debt crisis in many developing countries, Chinese creditors accounted for only 6.7% of debt servicing costs during the 2018-2022 period — significantly lower than the 66% these countries repaid to bondholders, mostly in Western countries.

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.