Category: Economy

Chinese lending to Pacific Island Countries (PICs) is now at its lowest level in 15 years, according to new data published by the Australian think tank Lowy Institute. The findings may come as a surprise, given China's heightened diplomatic and security ...

U.S. Treasury Secretary Janet Yellen is in Africa touting the Biden administration’s reenergized Africa policy. Her visit comes as several African countries are struggling with debt distress and Zambia and Ghana have officially defaulted. Debt’s prominence as a talking point is somewhat awkward, considering ...

By Rebecca Ray After providing a staggering amount of finance for overseas development projects in the wake of the global financial crisis, Chinese overseas development finance has been on a general downward trend for several years. New data shows the pandemic ...

U.S. Treasury Secretary Janet Yellen accused China of blocking progress for Zambia's drawn-out debt restructuring process that is now entering its second year. “I know the Chinese have been a barrier to concluding the negotiations,” she said in Lusaka on Monday, the ...

Nigerian President Muhammadu Buhari officially opened West Africa's largest port facility on Tuesday when he commissioned the new Lekki Deep Sea Port in Lagos State. The opening coincided with the docking of the first cargo vessel, the French-flagged CMA CGM Mozart, to ...

By Rebecca Ray After providing a staggering amount of finance for overseas development projects in the wake of the global financial crisis, Chinese overseas development finance has been on a general downward trend for several years. New data shows the pandemic ...

Sri Lanka has reportedly secured India’s support for its debt restructuring process. According to Reuters, an Indian Finance Ministry official sent a message to the International Monetary Fund that it “strongly supports” the debt-ridden country’s economic recovery plan. Indian External Affairs 

Sri Lanka’s desperate attempts to get China’s support for its debt restructuring could be blown up from the inside. This follows an invitation from senior Buddhist clerics to the Dalai Lama to visit the bankrupt island state. The Chinese embassy was predictably ...

By Charlotte Lenz With the launch in the early 2000s of China’s ‘Going Global’ Strategy, Chinese provinces became one group of actors participating in China’s South-South relations. This has complicated our perception of China, which is often still seen as a ...

Near record high levels of youth unemployment in China is prompting more young graduates to look abroad for work, particularly in Africa. Recruiters say they can't find enough people to work in both private companies and Chinese state-owned enterprises as translators, ...

The Sri Lankan government is now on the verge of closing a deal to secure a $2.9 billion emergency financial package from the International Monetary Fund following new assurances from its two largest bilateral creditors, India and China. Colombo got the desperately ...

The Chinese embassy in Sri Lanka did not take well to U.S. Ambassador Julie Chung's accusation that China is a potential "spoiler" in the South Asian country's debt restructuring process. The embassy was furious over remarks Chung made in an interview ...