Senior Commerce Ministry Official Says China Not the Main Creditor in Africa, Refutes Debt Trap Charge

Shen Xiang, director of the West Asia and Africa Department at the Chinese Ministry of Commerce, spoke at a press conference on Tuesday when he refuted accusations China engages in predatory lending. Image via the State Council Information Office.

The top Africa official at China’s powerful Ministry of Commerce (MOFCOM) forcefully pushed back against U.S. and Indian accusations that Beijing engages in predatory lending on the continent.

Shen Xiang, MOFCOM’s director of West Asia and Africa, responded to a question on the issue at a press conference in Beijing on Tuesday by noting that commercial and multilateral loans account for two-thirds of the outstanding debt in Africa today.

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by Eric Olander

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