Category: Economy

The Chinese Foreign Ministry’s brief announcement on Tuesday that China Exim Bank reached a debt deal with Sri Lanka surprised IMF officials - another indication of how fractured the bankrupt country’s debt restructuring process has become. Peter Breuer, the IMF’s Mission ...

This week’s IMF and World Bank meetings in Morocco will discuss fundamental changes to the global financial architecture, including who gets to make decisions in the World Bank and the International Monetary Fund. IMF officials ...

China’s rapid rise as a global lender has also made it a significant disrupter of the business-as-usual of debt restructuring. While Western stakeholders have framed China’s role as a ‘barrier,’ Beijing insists that it is being treated unfairly in comparison to Western-led ...

If the Chinese Government’s white paper gives the government account of the BRI, a second huge report provides the view from outside. Boston University’s Global Development Policy Center published a report this week that takes a critical view of the initiative’s first decade.

China's economy emerged from the pandemic much weaker than before. Unemployment is up, exports are down and a burgeoning property crisis is having a devastating impact on local government finances. These changes in the economy ...

By Marina Zucker-Marques and Kevin P.Gallagher For three long years now, the Group of 20 (G20) Common Framework has been unable to put debt-distressed countries on a path toward debt sustainability and development. The Common ...

Kenyan President William Ruto is preparing to make a longshot billion-dollar request for badly-needed financial assistance in a bid to bolster his country's ailing economy. Deputy President Rigathi Gachagua said Ruto will submit the request in person when he travels to Beijing later this month. Although he ...

Sri Lanka’s major creditors, including India, Japan, and France, are nearing a debt deal by mid-October, according to the Japanese newspaper Sankei Shinbun. However, there are serious questions as to whether China (one of Sri Lanka’s largest bilateral creditors) will be part of the deal. ...

Dramatic scenes this week in Italy where 7,000 people, mostly from Africa, came ashore after making the dangerous trek across the Mediterranean. It was a similar situation along the U.S.-Mexico border where 9,000 people crossed in a single day.

Some members of Sri Lanka’s creditor committee are reportedly promoting an agreement to restructure the bankrupt country’s debt without China. According to a report by Bloomberg, the United States, Japan and India are pushing for a deal with Sri Lanka ...

Significant imports from China are meant to meet the shortfall since Kenyan farmers produce only 2,000 metric tonnes which only meets 50 to 60% of local needs. The rest is supplemented by imports from Rwanda and Tanzania.

The Chinese-initiated Asian Infrastructure Investment Bank wrapped up its two-day annual meeting in the Egyptian resort city of Sharm El Sheikh on Tuesday and announced that three new members, all non-Asian, would be admitted to the bank. With the addition of ...