Welcome to the New Era Where China Writes the Rules

Chinese Premier Li Qiang posed together with Zambian President Haikinde Hichilema and French President Emmanuel Macron following the announcement of a landmark debt restructuring deal for the African country. Image via @HHichilema.

Everyone’s hailing the Zambian debt restructuring agreement that was unveiled on Friday in Paris as a major breakthrough in debt relief for the world’s poorest countries.

While we don’t have a lot of information about what’s specifically stipulated in the deal, what we do know about this “new” model of debt restructuring is that it looks an awful lot like China’s “old” way of dealing with debt-distressed countries.

  • 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
by Eric Olander

Most Read

1
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
2 Chinese Military Fans Discuss Why Indonesia Bought Rafale Instead of J-10C
3
China, U.S. Ink Rare Earth Deal; More Trade Pacts Coming
4
Six Million Donkeys Slaughtered for Chinese Medicine: Charity
5
Chinese-Moroccan Joint Venture Inaugurates EV Battery Parts Plant
6
Rubio to Welcome Asian ‘Quad’ Back to Washington

You Might Like

Zambia’s Landmark Debt Deal Highlights China’s Success in Setting New Rules for Development Finance

Zambian President Haikinde Hichilema looked visibly relieved following Friday’s announcement that the country’s creditor committee had finally reached an agreement to restructure $6.3 billion of bilateral external debt. The deal that took more ...

Paris Summit Takes Triple Aim at Debt, Climate, Development

The Summit for a New Global Financing Pact, aimed at reforming the increasingly dysfunctional development financing system, kicks off in Paris on Thursday. Its aims are huge. In the words of Catherine Colonna, the French Minister ...

Sri Lankan President Upbeat About Debt Deal Amid Geopolitical Pressure

Sri Lankan President Ranil Wickremesinghe confirmed that Sri Lanka plans to announce a plan to deal with its domestic debt this week, in line with IMF benchmarks. In an interview with France24, he dismissed fears that ...

Bridging the $3 Trillion Investment Gap: Debt Relief and the Race to Achieve the SDGs and Paris Agreement

By Marina Zucker-Marques This week, policymakers, civil society leaders, researchers, and others will gather in Washington, D.C., for the 2024 International Monetary Fund (IMF)/World Bank Group Spring Meetings. The meetings come as many ...

What is The China-Global South Project?

Independent

The China-Global South Project 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-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

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

More about CGSP