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

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.

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