Category: Economy

The sharp drop in Chinese overseas development finance lending documented by Boston University's Center for Global Policy Development among others has prompted critics of Beijing's Belt and Initiative in the United States and Europe to suggest that the massive global trade agenda is in trouble. 

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.

Four years after Indian academic Brahma Chellaney first introduced the concept of Chinese "debt-trap diplomacy," the now widely-debunked theory appears to be flaming out.   But it had quite a run. Chellaney's idea was that ...

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 ...

Gyude Moore, the former Liberian public works minister and now a senior fellow at the Center for Global Development joined prominent China scholar Damien Ma, director and co-founder of MacroPolo, the in-house think tank of the Paulson Institute in Chicago, for an online discussion that ...

The Economist Intelligence Unit's Global Forecasting Director Agathe Demarais characterized China's loan portfolio in Angola as "a good case study" for Beijing's financial engagement across Africa. "Not really," replied Hannah Ryder, CEO of the Beijing-based consultancy Development Reimagined, "it's ...

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 ...

Rwanda's Finance Minister Uzziel Ndagijimana and Chinese ambassador Rao Hongwei announced on Friday that Beijing would forgive $6 million of debt and provide a new $60 million grant to the government in Kigali as part of COVID-19 relief efforts. If the debt forgiveness ...

China's top diplomat for Sub-Saharan Africa, Wu Peng, revealed the final two-way China-Africa trade figure for 2020 that came in at $187 billion. All things considered given the massive economic disruptions that occurred last year in both ...