Category: Finance
Who China Lends Money to in Africa and How Much They Provide Has Changed a Lot
One of the key findings in CARI's newest report on Chinese lending patterns in Africa revealed a major shift in who Chinese creditors are lending money to and for how much. The once enormous resource for infrastructure loans extended to countries ...
UN Secretary-General Issues Stark Warning on Developing World Debt: Too Little’s Been Done and Now It’s Too Late
United Nations Secretary-General Antonio Guterres issued a dark warning on Monday that too little had been done to resolve the burgeoning debt crisis in developing countries what has been so far is “too limited in scope and too late.” Guterres told the ...
Momentum is Building For the IMF to Issue $650 Billion in New Capital Intended to Help Developing Countries
The International Monetary Fund may issue new Special Drawing Rights (SDR) that would provide $650 billion to its members, the bulk of which is intended to go to the world's poorest countries to help mitigate the impact of the ongoing economic downturn.
CARI: Chinese Lenders Have Provided $7.6 Billion in Debt Relief Since Last Year, Mostly to Africa
Angola is the primary beneficiary of Chinese debt restructuring activities over the past year, accounting for $6.2 billion out of $7.6 billion of total relief provided by Beijing to developing countries in 2020-2021, according to official data compiled by the China-Africa Research Initiative at ...
China Takes a Lot More Risks in Loans to African Countries Than Other International Creditors
New research finds that China has a much higher risk tolerance in its overseas lending practices, particularly to African countries, compared to other major creditors from the U.S., Europe, and Japan. "There is a negative relationship between credit risk and Chinese development finance—a disproportionate share of Chinese ...
3 Tips for African Negotiators Doing Deals with China
Two of the world's leading experts in China-Africa negotiations, Hervé Lado, Guinea country manager at the Natural Resource Governance Institute (NRGI) and Folashadé Soulé, a senior research associate at the University of Oxford, led a workshop last October in Cotonou, Benin with 15 negotiators from West and Central ...
Rich Countries Give IMF the Green Light to Boost Funding Through New Special Drawing Rights
The IMF moved one step closer on Tuesday to providing developing countries with a badly-needed cash infusion after the fund was granted approval by wealthy G20 nations to proceed with the issuance of new so-called Special Drawing Rights (SDRs).
Why the IMF’s Special Drawing Rights May Not Actually Be That Special
While a number of African finance ministers will no doubt be thrilled to hear the news that the IMF is finally making progress with the issuance of new Special Drawing Rights, two leading Africa scholars contend they may want to keep their expectations in check.
Researchers Want Official Washington to Know That China’s Actually Doing Quite a Bit to Relieve the Debt Problem in Africa
While U.S. policymakers are trying to come up with a new, more effective approach to challenge China's engagement in Africa, a trio of scholars at the Washington, D.C.-based China-Africa Research Initiative at Johns Hopkins University want to make it clear that Beijing is actually doing far more ...
IMF Chief Sounds Optimistic About the Prospect of New SDRs But Sidesteps U.S.-China Tensions That Are in the Way
IMF Managing Director Kristalina Georgieva echoed the growing optimism in some parts of Washington about the possibility of issuing new so-called Special Drawing Rights -- effectively a cash injection by the IMF to all of its members which would provide some badly-needed liquidity for the world's poorest countries.
Update on the Chinese Debt Situation in Africa
Chinese debt relief talks are underway in a number of African countries including Angola, Zambia, Kenya, and Ethiopia among others but you wouldn't really know it. Officials on all sides aren't saying much and there's relatively little press coverage on the ...
Spokesman: International Financial Institutions and Foreign Creditors Have More Responsibility Than China to Alleviate Africa’s Debt Pressures
Chinese Foreign Ministry spokesman Wang Wenbin said China is not to blame for the burgeoning financial problems in Africa. " Not a single African country had debt difficulties due to its cooperation with China," he said in response to a question from Hunan Radio and ...