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Zambia’s Landmark Debt Deal Highlights China’s Success in Setting New Rules for Development Finance
Zambian President Haikinde Hichilema looked visibly relieved following Friday's announcement that the country's creditor committee had finally reached an agreement to restructure $6.3 billion of bilateral external debt. The deal that took more than two years to finalize was unveiled by ...
Investors Cautiously Optimistic About Zambia Debt Deal, But Still Wary About China’s Role
Investors welcomed the news of Zambia's debt restructuring deal with a mini rally on Friday in the country's dollar-denominated bonds. Government bonds from Ghana, Pakistan and Sri Lanka also saw similar bumps prompted by new optimism their debt restructurings will follow Zambia's example.
Chinese Media Noticeably Quiet on Zambian Debt Deal
Most major financial news outlets in the U.S. and Europe featured prominent coverage of Friday's landmark Zambian debt restructuring deal but the story was barely mentioned in China. The official state-run Xinhua news agency published a short summary of the announcement but, ...
Hichilema Refutes Western Accusations China Was to Blame for Delays in Zambia’s Debt Restructuring
Zambian President Haikinde Hichilema rejected longstanding accusations by Western governments and institutions that China was to blame for how long it took to reach a debt restructuring agreement. The president told Bloomberg TV after the deal was announced on Friday in ...
Vietnam PM Arrives in China for Visit as a U.S. Aircraft Carrier Arrives
Vietnam's legendary great power hedging strategy was on full display this weekend when the massive U.S. aircraft carrier Ronald Reagan arrived in the central city of Da Nang for a rare port of call -- in fact, only the third time that a U.S. aircraft carrier has docked ...
U.S. Insists Modi’s Visit Wasn’t About China… Except That It Was
The United States rejected suggestions that Indian Prime Minister Narendra Modi's three day visit to the United States last week was about leveraging New Delhi in Washington's rivalry against China. Although China was on the agenda in talks between Modi and ...
WEEK IN REVIEW: China’s New Green Energy Diplomacy in Africa
Over the past six months, there's been a noticeable increase in the number of green energy deals announced by Chinese private and state-owned enterprises in Africa. But unlike the earlier era of Chinese-financed infrastructure development in Africa, this new push into ...
Saying the Quiet Part Out Loud on Africa’s Green Transition
This has been a week of revealing contrasts, so revealing that a screenwriter might find them a bit on the nose. Most prominent was the global attention focused on the underwater fate of a small group of rich people and the general ...
WEEK IN REVIEW: China’s Special Envoy to UN Expressed Support for Argentina’s Claim on Falklands Islands
China’s special envoy to the UN, Geng Shuang, expressed support for Argentina’s claim on the Falklands Islands (known as the Malvinas in Argentina) and for a UN resolution calling on the UK and Argentina to resume negotiations about the island group’s future. Geng also called on countries to ...
Paris Summit Takes Triple Aim at Debt, Climate, Development
The Summit for a New Global Financing Pact, aimed at reforming the increasingly dysfunctional development financing system, kicks off in Paris on Thursday. Its aims are huge. In the words of Catherine Colonna, the French Minister of Europe and Foreign Affairs, the goal is ...
Backgrounder: Why China Matters So Much at the Summit for a New Global Financing Pact
In Paris, all eyes are on Chinese Premier Li Qiang, representing the People’s Republic at this week’s Summit for a New Global Financing Pact. China’s rise is perhaps the most important mega-trend that led to the current rethinking of the global development finance system, but it remains ...
China’s Fanciful Dream to Play Israeli-Palestinian Peacemaker
Palestinian Authority President Mahmoud Abbas wrapped up a visit to Beijing last week where he heard lofty promises from Chinese officials about their desire to mediate a settlement with Israel. While the visit made for some good headlines, the chances of ...