African Countries Owe Way More to Private Creditors Than to China, Says New NGO Report

Source: Debt Justice, July 2022.

African governments owe nearly three times as much money to Western private creditors than they do to Chinese lenders, according to a new report by the UK-based NGO Debt Justice.

The group’s findings are based on World Bank data and reveal a stark divide between widely-held perceptions that China is Africa’s main creditor and the crushing reality actually facing the continent. 

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by Eric Olander

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