There’s a huge disconnect between the debt relief discussion currently taking place on many webinars hosted by academics and analysts, and the reality of what’s actually happening.
We’re now five months into this crisis and one thing is clear: bondholders, pension funds, asset management firms, and the rest of Africa’s private creditors are not at all aligned with the priorities set out by development experts. Day after day we see pie-in-the-sky recommendations calling for financial service companies to fall in line behind the G20 and the World Bank on suspending/freezing/halting debt repayments from the world’s poorest countries.
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The global discussion of the growing debt crisis in some Global South countries has been frustratingly slanted around the assumption that Chinese lending is particularly opaque. This is not to say that Chinese ...
Zambia’s request for blanket debt-service suspension from creditors edges the country closer to default and highlights the limitations of China’s debt diplomacy. The government has decided to ask all external creditors to agree ...