Country: China
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Lots of Talk, Little Action: Zambia’s Debt Relief Process Remains Stalled Says Finance Minister
Zambia's Finance Minister Situmbeko Musokotwane said it's urgent that the country's international creditors finalize a debt restructuring deal at once, or else a $188 million IMF emergency financial package could be at risk. Musokotwane expressed frustration in an interview with ...
Kenya Now in the Grip of Worsening Debt Crisis, President Rules Out Default
Kenya's public employees are threatening to go on strike unless the government pays their overdue salaries. Civil servants did not get paid last month due to a financial crisis brought on by the country's ballooning debt that's now fast closing in on ...
Pirates Seize Chinese-run Oil Tanker in the Gulf of Guinea
Pirates took command of a Chinese-operated oil tanker this week 300 kilometers off the coast of Ivory Coast in the Gulf of Guinea, according to a London-based risk management company. Details about how many crew are being held captive and how ...
Chinese Analysts Warn New U.S., Philippines Security Plan Will Escalate Tensions in the Pacific
The United States and the Philippines agreed to a new long-term plan that will pave the way for a major increase in U.S. security assistance to the Southeast Asian country over the next five to ten years. The deal was ...
Advice for African Leaders on How to Manage Newfound Lithium Wealth in the Era of Great Power Competition
Lithium production in Africa is expected to jump fourfold in the next ten years as demand surges for the metal needed to build batteries for electric vehicles. While that may produce another resource boom in some countries, it also presents unique challenges, ...
Chinese Company Commences Construction Works After 5-Year Delay as Kenya Turns to Mega Dams for Irrigation
China’s Sinohydro Corporation and Engineering has received the green light to commence works on the $135 million Mwache Multipurpose Dam project in Kenya’s Kwale County. Launched by President William Ruto on Thursday, the long-awaited project is scheduled for completion in 2026. ...
Debt Standoff At IMF, World Bank Spring Meetings
Finance ministers from around the world have descended on Washington DC for the World Bank and International Monetary Fund’s Spring Meetings. The Chinese government has confirmed that a top-level Chinese delegation will attend in person -- the first time since the COVID pandemic.
Chinese Experts Weigh In On Brazilian President’s Visit to Beijing
Brazil’s President Luiz Inácio Lula da Silva is scheduled to arrive in Shanghai on Tuesday, after a March visit was rescheduled due to illness. He will meet with Chinese President Xi Jinping on Friday. Before leaving, he said he also plans to invite Xi to Brazil. ...
Getting Currency Swaps Right: How China is Filling the Void Left by the West
By Kevin Gallagher, Marina Zucker-Marques and Barbara Fritz A recent World Bank paper – widely echoed by financial outlets – has raised concerns about a supposed Chinese “emerging system of cross-border bailouts”, composed mostly of currency swap agreements. To the authors, Chinese swaps are opaque and costly, ...
IMF, World Bank Losing Patience With China Over Debt Relief Standoff
China's ongoing stand-off with multilateral lenders over debt relief terms for developing countries will be a prominent issue at International Monetary Fund and World Bank's annual week-long gathering known as the Spring Meetings that get underway on Monday in Washington, D.C. ...
Brazil’s Lula Heads to China With a Ukraine Peace Proposal That’s Effectively Dead on Arrival
Brazilian President Luiz Inàcio Lula da Silva had hoped to arrive in Beijing on Tuesday with a plan to present to Chinese President Xi Jinping that would end the conflict in Ukraine. Lula dispatched a special envoy to Kyiv last week ...
How Important is China’s New Role as Mideast Mediator? Depends Who You Ask.
The smiles and awkward handshake among the foreign ministers from China, Saudi Arabia and Iran last week in Beijing that finalized a once-improbable reconciliation between the two Persian Gulf rivals triggered another wave of analysis by scholars around the world about the significance of China's role as ...