Category: Finance

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 ...

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 ...

Beginning in July, Kenya's debt repayment will cross the psychologically important barrier of 1 trillion shillings ($9.15 billion), according to the National Treasury, prompting renewed concerns over the country's ability to sustain a debt portfolio that has doubled in size since 2017.

The Nigerian Debt Management Office on Monday revealed that it has $5.8 billion of borrowed money on its books that it hasn't disbursed. This prompted new worries among some financial analysts that the actual debt-to-GDP ratio has surpassed 100%, meaning that the country has taken on so ...

There's new evidence of the dramatic plunge in Chinese overseas development finance. Researchers in the United States found that for the first time in more than a decade, China's two largest policy banks, the China Development Bank and the China Exim Bank, did not ...

Chad, Zambia, and Ethiopia are among a growing number of African countries seeking debt relief under the G20's common framework (CF) and while that might provide some temporary relief, one of the world's largest credit ratings agencies warned on Tuesday that it's going to come at a ...

The China Road and Bridge Corporation is building a massive new half-a-billion dollar expressway right through the Kenyan capital of Nairobi. But this project is very different than previous Chinese-financed infrastructure initiatives in Kenya, like the ailing Standard ...

Nigerian Foreign Minister Geoffrey Onyeama is the latest senior African stakeholder to push back against the accusation that China is taking advantage of Africa in general and his country in particular. "It is not totally accurate to make it sound as if we go into these relationships ...

Speaking in both his capacity as the outgoing chair of the African Union and the President of South Africa, Cyril Ramaphosa renewed his calls for urgent action by the International Monetary Fund to provide funds to developing countries by issuing new Special Drawing Rights (SDRs).

Early on in the COVID-19-induced financial crisis in Africa, finance ministers and other senior-level stakeholders across the continent called on the IMF to issue new so-called Special Drawing Rights (SDRs) that would provide desperately-needed liquidity into their economies. When 

There was a lot of excitement on January 1st when China's first free trade agreement went into effect with Mauritius, Beijing's first FTA with a country in sub-Saharan Africa. But just a month later many observers are growing concerned about a ...

The Kenyan government, like a lot of African governments, is struggling to find the right balance between continuing to pay for badly-needed new infrastructure while at the same time servicing its enormous debts for older projects -- many of which are now so-called "white elephants" that were ...