With U.S.-South Africa ties in the deep freeze, it was notable to see the sheer size of the U.S. delegation sent to this week’s Mining Indaba in Cape Town – one of the most prominent industry gatherings and one of the few where the Global South gets a prominent voice.
The Trump administration’s famous Afrophobia seems (momentarily at least) tempered by its greed for minerals. It is reportedly walking ...
Category: Debt Restructuring
Kenya Cuts Debt Costs With Yuan Swap as China Ties Reshape Financing
Kenya reduced its external debt-servicing costs by about $167 million after using a yuan-for-dollar currency swap linked to its debt with China. This is the first time Nairobi has specified the exact figure, after announcing the swap in October. The transaction lowered ...
Indonesian Finance Minister Will Join Rail Debt Talks with China
Indonesia’s finance minister, Purbaya Yudhi Sadewa, will join a top-level delegation preparing to fly to China for debt-renegotiation talks on the Jakarta–Bandung high-speed rail project. Purbaya is joining the talks while Jakarta debates whether to commit any public funds ...
IMF Warns Kenya Over Risks of Converting Debt to Yuan
The International Monetary Fund cautioned Kenya over the dangers of converting U.S. dollar-denominated loans to new loans priced in Chinese yuan. In October, Kenya announced that it plans to convert the remaining $3.5 billion of debt owed to the China Exim ...
Kenya’s Chinese Debt Swap Comes With a Hidden Currency Risk
The Kenyan Treasury last month announced a breakthrough in its years-long effort to restructure billions of dollars still owed to the China Exim Bank that were used to build the Standard Gauge Railway. The two ...
As Indonesia Seeks to Restructure Rail Debt, China May Use Talks to Broaden Yuan’s Global Role
Indonesian debt talks with Chinese creditors over restructuring $7.3 billion of loans used to build the Southeast Asian country's high-speed railway are on track, according to sources on both sides, but there are some confusing signals emanating from the negotiations. Luhut ...
Analysis from Cobus van Staden
After Kenya Secures Landmark Railway Debt Deal With China, Indonesia Eyes a Similar Renegotiation
Indonesia's Investment Minister Rosan Roeslani confirmed on Wednesday that talks are underway with Chinese creditors to restructure the $7.3 billion of debt owed by the Sino-Indonesian joint venture that operates the Whoosh high-speed railway. Although the train has been popular with travelers,
Kenya Swaps $3.5 Billion in Chinese Railway Debt From Dollars to Yuan, Cutting Costs and Boosting Beijing’s RMB Push
Kenya and China have agreed to restructure the East African country's loan portfolio by converting an estimated $3.5 billion of outstanding debts from U.S. dollars into Chinese yuan. The amount is believed to be the remainder of more than $6 billion of ...
Zambia Reaching End of Debt Restructuring Process
Zambia will soon be eligible once again for foreign financing as its debt restructuring negotiations are nearing the end, a French diplomatic source said Tuesday. France, which, along with China, heads the committee of public sector creditors for Zambia, was earlier ...
Sri Lanka’s Creditors Demand Deal Details, Including With China
Sri Lanka's bilateral lenders, who agreed to restructure close to $6 billion in loans, have demanded "comparability of treatment" with other creditors, including China. A statement seen by AFP on Thursday read that the Official Creditor Committee (OCC), led by Japan, ...
Sri Lanka Seals Debt Deal With China, Others After Crash
By Amal Jayasinghe Sri Lanka said on Wednesday it had clinched a restructuring deal with key bilateral lender China and other nations, covering up to $10 billion in debt. This is a critical step towards recovery after the 2022 financial crash.
A Primer on China’s Role in the Worsening Zambian Debt Crisis
Zambia's debt restructuring deal that was hailed earlier this year as a "landmark" breakthrough for developing countries is now in shambles. Talks broke down a couple of weeks ago when bilateral creditors led by China and France objected to the terms ...
Poor Countries Seek Bilateral Debt-Relief Efforts After Rebuf From IMF and World Bank
The International Monetary Fund's director dismissed calls debt cancellation from Ghana, Nigeria and other countries on the continent, saying it would adversely impact domestic creditors. (INVESTING) ETHIOPIA: After receiving debt relief from China, Ethiopia is reviving ...