Follow CGSP on Social Media

Listen to the CGSP Podcast

It Looks Increasingly Unlikely Africa Will be Able to Negotiate Package Debt Relief Deals With Either Private Creditors or the Chinese

by Eric Olander
File photo. CARL DE SOUZA / AFP

Hopes for a consolidated African debt relief package from both private creditors and Chinese lenders appear to be fading. On Friday, news came that a coalition, the Africa Private Creditor Working Group or AfricaPCWG, representing 25 large asset managers and institutions had been formed to negotiate with borrowers. 

But right from their opening statement published on Friday, the group emphasized that they are not considering a blanket debt-relief solution, and instead will work on a “case by case basis” with each country.

  • 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.

OR

Already a subscriber? Log in Click Here to Learn More

You Might Like

Ethiopian PM Abiy Puts Debt Relief on the COVID-19 Agenda. Now the Multi-Billion Dollar Question is How Will China Respond?

Confronted with an “existential threat,” Ethiopian Prime Minister Abiy Ahmed issued an urgent plea to G20 countries for immediate debt relief. The “dramatic decline in exports, disruption of global chains, and the sudden drying up ...

If African Leaders Expect China to Cancel Their Debts, They’re Probably Going to be Disappointed

It’s been just over two weeks since Ethiopian Prime Minister Abiy Ahmed issued the first call on behalf of African leaders for emergency debt relief. Since then, there hasn’t been much movement on ...

Xi Jinping Bolsters China’s COVID-19 Diplomacy in Africa With Virtual Leaders Summit

Xi Jinping delivered the keynote address at a hastily arranged virtual African leaders summit on Wednesday where the Chinese president reaffirmed Beijing’s commitment to provide financial and material support to combat the pandemic. There was ...

What is The China-Africa Project?

Independent

The CAP 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-Africa stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalist and a variety of stakeholders in the China-Africa discourse.

Networking

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

Subscribe