Author: Cobus van Staden
China’s Premier Promises IMF Chief “Constructive” Cooperation on Debt
Chinese Premier Li Keqiang told the head of the International Monetary Fund that China is open to participating “in a constructive manner” with debt restructuring efforts. During a call with IMF Managing Director Kristalina Georgieva, Li said: “China is willing to take ...
Kenyan Merchants and Consumers Face Off Over Chinese Imports
Kenyan traders staged a street protest against Chinese competitors they say are undercutting them. This follows the targeting of China Square by Trade Secretary Moses Kuria. The popular new Chinese-run store offers imported products at prices 50% lower than traders.
China Sticks to Its Position That Its Not to Blame for Delays in Zambia’s Debt Restructuring Process
Any hope China would soften its hardline position on debt restructuring following last weekend's talks among G20 finance ministers was dashed on Monday when Foreign Ministry Spokesperson Mao Ning restated Beijing's longstanding demand that multilateral creditors also take losses on their loans to developing countries. ...
IMF Head Flatly Rejects China’s Call for Multilateral Development Banks to Take Losses on Loans: “Not Possible”
International Monetary Fund Managing Director Kristalina Georgieva flatly rejected China's demand for multilateral development banks (MDBs) to accept losses or "haircuts" for loans to the world's poorest countries. "Not possible" she bluntly declared in an interview with Bloomberg following this weekend's ...
Germany’s Ambassador to Ghana Explains Why He Thinks China is Hesitating to Set Up a Creditor Committee
The German government is advocating on behalf of Ghana for China to stop stalling in the creation of a new Creditor Committee that will restructure Accra's debts. Last week, Ghana officially became the second African country in the post-pandemic era to default ...
With an Eye on China and Russia, Macron (Again) Tries to Reboot France’s Strategy in Africa
France needs to approach Africa with ‘profound humility’ to make up for its colonial past. This is the message from French President Emmanuel Macron, who is embarking on an African tour in part aimed at rejuvenating Paris’s engagement with a continent where its image remains shaped by its colonial ...
Top Chinese Communist Party Official Visits Ruling Party Leaders in Kenya, Tanzania
In-person party-to-party exchanges between Communist Party of China (CPC) officials and African counterparts are ramping up again. Li Mingxiang, the Vice Minister of the International Department of the CPC Central Committee, recently visited Kenya and Tanzania. The visit was ostensibly aimed at ...
Kenya’s Ambassador to China Leaves Unexpectedly
Kenya's outgoing ambassador to China, Mary Muthoni, is leaving her post after only ten months on the job, far less than her predecessor, who spent three years in Beijing. The Ministry of Foreign Affairs in Nairobi did not explain what prompted ...
What’s the Strategy Behind South Africa’s Joint Naval Exercises With China and Russia?
South Africa’s joint naval exercises with China and Russia are drawing sharp criticism domestically and from Western allies. Beyond questions about the symbolism of its timing - overlapping with the one-year anniversary of the Ukraine invasion - many are baffled as to why SA is participating ...
Pentagon Not Happy About South African Naval Exercises But Won’t Admit It Publicly
The United States military is staying largely quiet over the ongoing joint naval exercises in South Africa that include Russia and China. Earlier, Deputy Assistant Secretary of Defense for African Affairs Chidi Blyden said the U.S. respects South Africa's ...