Category: Finance

Chinese mining giant CMOC announced that it has settled a years-long dispute with the DR Congo's state-run mining company Gécamines that both sides hope will conclude a bitter feud between the two firms over royalty payments from the massive Tenke Fungurume mine (TFM), one of the world's ...

"If Liong-Barongsai from China works together with Nandi Cows from India, with Sphinxes from Egypt, with Peacocks from Burma, with White Elephants from Siam, with Hydra Snakes from Vietnam, with Tigers from the Philippines and with Bulls from Indonesia, then surely the international imperialism and colonialism will ...

Amid the news that Zambia has moved towards the official start of negotiations with its private creditors, it is worthwhile remembering that China's share of African debt is far outstripped by debt to private sector lenders in the U.S. and Europe and Western-led multilateral lenders. This is ...

A Tweet by Amos Hochstein, the Biden administration's lead on infrastructure initiatives in developing countries, was the only indication last week of any U.S. involvement in the deal to rebuild the Lobito corridor in Angola. But behind the scenes, the U.S. ...

The World Bank announced $700 million in budgetary and welfare support to Sri Lanka on Thursday. The news comes as Sri Lanka’s Foreign Minister Ali Sabry met with China’s Finance Minister Liu Kun and Exim Bank chair Wu Fulin to discuss China’s central role in his country’s debt restructuring. ...

Sri Lankan President Ranil Wickremesinghe confirmed that Sri Lanka plans to announce a plan to deal with its domestic debt this week, in line with IMF benchmarks. In an interview with France24, he dismissed fears that China is delaying the process, after Chinese creditors didn’t join official debt talks in April. ...

Everyone's hailing the Zambian debt restructuring agreement that was unveiled on Friday in Paris as a major breakthrough in debt relief for the world's poorest countries. While we don't have a lot of information about what's specifically stipulated in the deal, ...

Zambian President Haikinde Hichilema looked visibly relieved following Friday's announcement that the country's creditor committee had finally reached an agreement to restructure $6.3 billion of bilateral external debt. The deal that took more than two years to finalize was unveiled by ...

Investors welcomed the news of Zambia's debt restructuring deal with a mini rally on Friday in the country's dollar-denominated bonds. Government bonds from Ghana, Pakistan and Sri Lanka also saw similar bumps prompted by new optimism their debt restructurings will follow Zambia's example.

Zambian President Haikinde Hichilema rejected longstanding accusations by Western governments and institutions that China was to blame for how long it took to reach a debt restructuring agreement. The president told Bloomberg TV after the deal was announced on Friday in ...

The Summit for a New Global Financing Pact, aimed at reforming the increasingly dysfunctional development financing system, kicks off in Paris on Thursday. Its aims are huge. In the words of Catherine Colonna, the French Minister of Europe and Foreign Affairs, the goal is ...

In Paris, all eyes are on Chinese Premier Li Qiang, representing the People’s Republic at this week’s Summit for a New Global Financing Pact. China’s rise is perhaps the most important mega-trend that led to the current rethinking of the global development finance system, but it remains ...