Category: Finance

China’s Evolving Lending Footprint in Africa: Selective Engagement and Strategic Retooling

By Mengdi Yue and Yiyuan Qi Chinese loans to Africa are down once again, but not out.  Boston University Global Development Policy Center’s newly updated Chinese Loans to Africa (CLA) Database shows that, despite a slight rise in 2023, Chinese ...

China’s Africa Lending Nearly Halved in 2024, Shifts to Yuan

By Colleen Goko Chinese lending to Africa nearly halved to $2.1 billion in 2024, the first annual decline since the COVID-19 pandemic, as the country shifts to selective, strategic projects, according to data released on Wednesday by Boston University. ...

India’s Central Bank Proposes Linking BRICS’ Digital Currencies, Sources Say

By Jaspreet Kalra and Nikunj Ohri India's central bank has proposed that BRICS countries link their official digital currencies to make cross-border trade and tourism payments easier, two sources said, which could reduce reliance on the U.S. dollar as geopolitical tensions ...

Constructive Responses to Net Negative Transfers: What Next for China’s Financial Relationship With Low-Income Countries

By Rebecca Ray In the last few years, China’s net debt transfers (new disbursements minus repayments) to low-income countries have turned negative. This trend means that poor countries are now repaying China more each year for past years’ lending than they ...

China’s Trade Surplus Tops $1 Trillion Despite Plunge in US-Bound Exports

By Peter Catterall China's towering annual trade surplus surpassed $1 trillion for the first time last month, data showed Monday, as a sharp drop in shipments to the United States was offset by surging exports to other major markets.

Analysis from Cobus van Staden

Confusing Developments in “Development”

This week I’m in Brussels, where I took part in a workshop on how the EU should shape its development strategy in response to China’s global influence.
I have joked in the past that it feels like I’ve attended this same ‘EU, Africa, and External Development Partners’ conference for ten years straight. 

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China Kicks off Program to Import More Foreign Goods

China on Tuesday launched a programme to encourage its citizens to buy more imports, as Beijing pushes a long-term plan to turn the country into a major consumer nation. Premier Li Qiang and Commerce Minister Wang Wentao announced the start of ...

China’s Evolution from “Rules Taker” to “Rules Maker” in Development Finance

As China’s economic influence expands, so does its ambition to shape the very system that once constrained it. In this episode of The China-Global South Podcast, Eric speaks with Greg Chin and Kevin Gallagher from Boston University’s Global Development Policy Center about 

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 ...

China and the Bretton Woods Institutions

By Gregory T. Chin and Kevin P. Gallagher The global economic order is undergoing significant change, especially as it pertains to the Global South. In the 20th century, the legacy Bretton Woods Institutions (BWIs) served as one of the only sources ...

IMF Meetings Begin Under Fresh Cloud of U.S.-China Trade Tensions

The IMF and World Bank's semi-annual gathering of finance ministers and central bank governors got underway in Washington on Monday, against the backdrop of new trade threats between the world's two largest economies. Last week, China unveiled new export restrictions on ...

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 ...

Indonesia Prepares for Pivotal Talks on Expanding China-Financed ‘Whoosh’ High-Speed Railway

When the Jakarta-Bandung high-speed rail, known as the Whoosh, opened in October 2023, it quickly drew scrutiny. China provided billions in loans, KCIC—the China-Indonesia joint venture operating the line—reported losses, and parent companies like the state-owned PT Kereta Api Indonesia (KAI) absorbed significant deficits. Critics ...
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