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Category: Finance

Kenya’s Latest Economic Data is a Warning to Other Developing Countries With Large Chinese Debts and Trade Deficits

Kenya’s National Bureau of Statistics (KNBS) released grim new data this week that highlights the acute problems confronting developing countries with large Chinese trade deficits and debts, both of which increased substantially: TRADE: The country’s trade deficit with China

Analysis from Cobus van Staden

Great Changes Unseen in a Century (and Frequently Ignored Now)

Big things are happening in the world, but don’t expect me to tell you what they are. 

Like many South Africans, I’ve been a little distracted these days. The country’s notorious electricity situation has worsened to blackouts three times a day. People like me, whose work depends on internet access, migrate across the city every few hours to cafes and other workplaces that still have power. All the time, Johannesburg ...

What Do the African Development Bank Annual Meetings Mean for Chinese Energy Finance in Africa?

By Oyintarelado (Tarela) Moses This week, the African Development Bank (AfDB) convenes its annual meetings in Accra, Ghana under the theme of Achieving Climate Resilience and a Just Energy Transition for Africa. As countries throughout the region experience the effects ...

Magalie Masamba on What It’s Going to Take to Resolve Africa’s Debt Distress

Until a few years ago, before the pandemic, most African economies were among the world's best performing in terms of debt. Revenues were sufficient and debt-to-GDP levels were largely well below the IMF's 50% threshold. ...

Sorry South Africa, China’s Not Going to Finance a New Joburg-Durban High-Speed Railway

Chen Xiaodong, China’s ambassador to South Africa, recently caused a small flurry of press coverage by seeming to imply that China could be moving towards funding a high-speed rail link between SA’s economic heartland, Gauteng, and Durban, its most important harbor.  ...

Chinese Lending to Africa Isn’t Ending, But It Is Changing: Here’s How

The Wire China recently interviewed Deborah Brautigam, one of the world’s leading experts on Chinese lending to Africa. In their wide-ranging conversation, Brautigam referred to a few emerging trends of how Chinese financing is shifting: Deborah Brautigam on ...

U.S. Senator’s Widely-Held Misunderstanding of the U.S. Response to Chinese Development Financing in Africa

For some reason, the Foreign Policy Association last week published a 2020 clip of U.S. Senator Tim Kaine explaining how the U.S. planned to compete with China in development finance in Africa:

The Case for Cooperation Between Chinese and Western Development Finance Institutions

By Oyintarelado (Tarela) Moses Chinese lenders participating in the Belt and Road Initiative (BRI) conduct business within a broader ecosystem of financing for development. This complex web of actors work in a coordinated credit space, comprising development finance institutions, commercial ...

Rising Debt and a Sinking Currency is a Bad Combination For Kenya

Kenya's embattled currency, the shilling, sank even further on Monday, dipping to an all-time low of 115 against the U.S. dollar, prompting renewed concerns that the country will soon face a dramatic economic reckoning.  The problem is that ...

The ‘Anti-Dollar Axis’: An Unlikely Alliance

By Saniya Kulkarni Although the UN General Assembly resolution condemning Russia’s aggression in Ukraine was passed with 141 votes in favor, the 35 abstentions, primarily from states in the Global South, but especially those by powers like China, India, and South Africa, ...

This Year Could See a Dozen Debt Defaults Warns Top World Bank Economist

As many as twelve countries could default on their loans this year, a senior World Bank economist warned in a blog post on Monday. Marcello Estevão, the WB’s Global Director for Macroeconomics, Trade and Investment, said the crisis in Ukraine is a final shock ...

New Data Shows China’s Economic Relationship with Latin America and the Caribbean is Evolving

By Zara C. Albright and Rebecca Ray For the second year in a row, the China-Latin America Finance Database, jointly managed by the Boston University Global Development Policy (GDP) Center and the Inter-American Dialogue, recorded no new official finance commitments from China to ...
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