Category: Finance

Researchers at the Kiel Institue for the World Economy in Germany launched a new database of African debt that confirms a key Chinese talking point: Beijing's loans to African countries are significantly cheaper than those of commercial creditors. However, David Mihalyi and ...

Japan’s Prime Minister Fumio Kishida announced his government will provide $500 million to promote peace and stability in Africa. He made the announcement in Accra, the second stop in a week-long African tour explicitly aimed at countering Russia and China’s influence on the ...

By Cecilia Springer The Global South faces major financing gaps for achieving sustainable development goals. At the same time, the main infrastructure initiatives seeking to fill these gaps - China’s Belt and Road Initiative (BRI) and the US-led Partnership for Global Infrastructure ...

The widely debunked Chinese debt trap narrative re-surfaced again in Washington, D.C. when the top U.S. military commander for Africa General Michael Langley testified before Congress -- highlighting the urgent need for better information about Chinese lending practices in developing countries. ...

There was a lot of excitement earlier this month at the IMF and World Bank's annual gathering in Washington, D.C. about rumors that the impasse between China and multilateral development banks (MDBs) had been resolved. That stalemate between the Chinese and ...

Bloomberg reports that Zambia’s official creditor committee, which is co-led by China, has reportedly made progress in meetings this week, which will lead to them reconvening for a follow-up session next month. The next meeting could see them signing a memorandum ...

The head of China's central bank, Yi Gang, provided the clearest indication to date Beijing is willing to retreat from its demand that multilateral development banks (MDBs) also take write-downs on their loans to the world's poorest countries. Yi told participants at ...

There is cautious optimism at the World Bank and International Monetary Fund (IMF) spring meetings in Washington DC for progress on debt relief. Earlier this week, Reuters and other outlets reported that China could be willing to drop its demand that Multilateral Development Banks (MDBs) like the World Bank ...

Chinese negotiators are reportedly making progress in talks with other major international creditors to break the ongoing impasse that's blocking debt relief for a number of poor developing countries, particularly in Africa. Both the Wall Street Journal and Reuters quoted unnamed sources on ...

Zambia's Finance Minister Situmbeko Musokotwane said it's urgent that the country's international creditors finalize a debt restructuring deal at once, or else a $188 million IMF emergency financial package could be at risk. Musokotwane expressed frustration in an interview with ...

Kenya's public employees are threatening to go on strike unless the government pays their overdue salaries. Civil servants did not get paid last month due to a financial crisis brought on by the country's ballooning debt that's now fast closing in on ...

Finance ministers from around the world have descended on Washington DC for the World Bank and International Monetary Fund’s Spring Meetings. The Chinese government has confirmed that a top-level Chinese delegation will attend in person -- the first time since the COVID pandemic.