Category: Finance

Sri Lanka has reportedly secured India’s support for its debt restructuring process. According to Reuters, an Indian Finance Ministry official sent a message to the International Monetary Fund that it “strongly supports” the debt-ridden country’s economic recovery plan. Indian External Affairs 

The government of Uganda announced that it canceled a 2015 contract with China Harbor Engineering Co. (CHEC) to build a rail line linking the capital of Kampala and the Kenyan border. This follows an eight-year lag as the contractor failed to get Chinese policy bank funding for the ...

Two of Sri Lanka's largest bilateral creditors, China and India, are finally taking steps to engage Colombo after months of inaction in resolving the South Asian country's worsening debt crisis. The Chinese led the charge. Chen Zhou, vice minister of the ...

Qin Gang is carrying on a 33-year-old tradition by making Africa the first official visit of the new year for China's foreign minister. Qin took office just two weeks ago and is new to African affairs, so this week's five-nation tour ...

By Justin Yifu Lin and Yan Wang The global economy is facing polycrisis: increasing climate change, Russia’s war in Ukraine and capital flight from emerging markets and developing countries, leading to declines in their foreign exchange reserves, local currency depreciation and ...

Eric Olander, Editor in Chief China's efforts to build a parallel international order are going to accelerate in 2023. Led by a new foreign policy team that will assume office in March, Xi Jinping's new Global Development Initiative will take shape, ...

The Tanzanian government and an unspecified Chinese contractor signed a $2.2 billion contract on Tuesday to build a 2,561km rail line from Dar es Salaam to the Lake Victoria city of Mwanza. It's important to note that even though Chinese contractors ...

Ghana announced it will suspend payments on most of its debt to bondholders, other commercial lenders, and foreign governments, officially putting it in default. The announcement comes a week after a staff-level meeting with the IMF and a ratings downgrade. Ghana’s economy is spiraling, with 70%-100% of government revenue going to ...

The Chinese debt trap narrative was started based on the purported surrender of the Port of Hambantota in Sri Lanka. When Colombo fell behind in its payments to the China Exim Bank for the loan, the story goes, Beijing seized the ...

By Oyintarelado Moses The U.S. showed off its comparative advantage in engaging with Africa during the Africa and Diaspora Young Leaders Forum at last week’s U.S.-Africa Leaders Summit. While sitting in the audience, I observed as the first African American Vice ...

Dear China-Global South Project Editors, I read the China-Global South Daily Brief of 8 November 2022 and came across the paper by Jin Zhongxia whose name 金中夏prompted the title of this letter to the editor. I, of course, agree with ...

China's engagement in Africa in the modern era is undergoing an important transition as the central government in Beijing, once the exclusive driver of this relationship, is stepping back to cede more space to provincial, municipal, and other so-called "sub-national actors" to facilitate trade and pioneer new ...