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Nigeria’s House Speaker Rallies Other Legislative Leaders Across Africa in New Appeal for Debt Relief

Nigeria's outspoken Speaker of the House of Representatives, Femi Gbajabiamila, is mobilizing his legislative counterparts in half a dozen other African countries, including Kenya, South Africa, and Ethiopia, to speak out on the need for immediate debt relief and even outright debt cancellation.

FT Article Sparks a Lot of Excitement About Chinese Debt Restructuring Deals But Details Still Remain Sparse

An FT story published over the weekend injected a burst of rare optimism into the African debt relief discussion. The article by U.S.-based Markets Correspondent Camilla Hodgson reported on last Tuesday's remarks by Chinese foreign ministry spokesman Zhao Lijian that Beijing had reached debt relief ...

President Edgar Lungu Just Straight Up Asked Xi Jinping for Zambia’s Debts to be Cancelled

African appeals for Chinese debt relief have until recently been somewhat vague and indirect, at least publicly. Well, that changed when the spokesman for Edgar Lungu released details of Zambian president's call on Monday with his Chinese counterpart Xi Jinping.  “President ...

World Bank President Says He’s Confident China, Private Creditors Will Deliver Debt Relief

World Bank President David Malpass (photo) told Bloomberg that he's confident private creditors will somehow come up with a way to restructure the $140+ billion of bond debt that poor countries owe investors. “The view of the international community was very ...

“Nothing New Here” Concludes Leading China Scholar About Xi Jinping’s African Debt Cancellation Offer

Mariana Rudyak, a prominent China scholar at the University of Heidelberg in Germany who specializes in Chinese foreign aid, provided a short assessment of President Xi Jinping's announcement that Beijing would cancel interest-free loans due before the end of the year.

Xi Jinping Bolsters China’s COVID-19 Diplomacy in Africa With Virtual Leaders Summit

Xi Jinping delivered the keynote address at a hastily arranged virtual African leaders summit on Wednesday where the Chinese president reaffirmed Beijing's commitment to provide financial and material support to combat the pandemic. There was very little new information contained in ...

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

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. 

Uganda President Museveni Subtly Blames “Asia” For COVID-19 and Now Wants All African Debt Cancelled in Return

Uganda’s President Yoweri Museveni said in a speech this week that because the COVID-19 outbreak is not the fault of his or any African country that the continent's international creditors should in turn help by canceling all of its debts. “The ...

Brookings Scholar Yun Sun Provides a Road Map For Chinese Debt Relief in Africa

There's growing anticipation over how China will respond to Africa's calls for debt relief amid the worsening COVID-19 crisis that is ravaging economies across the continent. So far, there have only been a few hints as to how China will proceed, ...

How is China Going to Handle Debt Relief in Africa?

With economic conditions across Africa rapidly deteriorating, leaders across the continent are escalating their calls for the international community to provide emergency debt relief. Until this week, though, those appeals have been broadly targeted, not singling out any particular country ...
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