Category: Finance

Japan will reportedly provide about $107 million in bilateral loans to Kenya for port, water, and electricity infrastructure, to be implemented from next week. The deal signals a stronger role for Japan as an external partner to the continent amid G7 anxieties about China’s influence.

The International Monetary Fund warned the Maldives against looming "debt distress" Monday, as the small but strategically placed luxury tourist destination looks set to borrow more from main creditor China. Since winning office last year, President Mohamed Muizzu has reoriented the ...

Developing countries spent a staggering $294 billion to service their debts in 2022, a figure that's expected to balloon by a third this year, according to the findings of a new report published by the UK NGO ONE Campaign. While China ...

Zambian Finance Minister Situmbeko Musokotwane said the quiet part out loud when he acknowledged that previous administrations borrowed too much money from China. “The level of debt that Zambia acquired from China was way, way too high,” he told the Wall ...

By Tim Hirschel-Burns Many people in the development finance community migrated up the United States' eastern seaboard over the weekend. Last week, the International Monetary Fund (IMF) and World Bank Group Spring Meetings took place in Washington D.C., while this week ...

The International Monetary Fund approved a new set of rules to speed up the debt restructuring process in developing countries and reduce delays in negotiating settlements with bilateral creditors that have been widely blamed on China. The new rules specifically focus on ...

China's ambassador to Zimbabwe, Zhou Ding, announced that Beijing will cancel a very small portion of Harare's estimated $2.1 billion of outstanding debt to Chinese creditors. Zhou said on Wednesday that interest-free loans that matured at the end of 2015 ...

The World Bank and the International Monetary Fund's (IMF) annual Spring Meetings got underway in Washington, D.C., on Monday. These two institutions' stakeholders will spend the week grappling with issues ranging from debt to climate change and global governance. One issue ...

By Marina Zucker-Marques This week, policymakers, civil society leaders, researchers, and others will gather in Washington, D.C., for the 2024 International Monetary Fund (IMF)/World Bank Group Spring Meetings. The meetings come as many ...

Ghana has relatively low exposure to loans from China and multiple creditors, enabling the country to reach debt restructuring agreements. Chinese creditors account for only 7% of Ghana’s public external debt, while China accounts for 36% of Zambia’s external debt and ...

By Oyintarelado Moses Energy access and transition are prominent development objectives in African countries. Across the continent, 43% of the population does not have access to electricity and 670 million people lack access to ...

While many in the West still contend Africa's worsening debt crisis is largely due to excessive Chinese lending, Tsinghua University Professor Tang Xiaoyang argues that accusation just isn't true.  Instead, the well-known China-Africa scholar contends ...