Country: China
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Ghana Tries to Defend Itself Against Debt Critics
The Ghanaian Finance Ministry is angrily refuting recent reports by Bloomberg News reflecting the increasingly widespread perception in the global financial community that the country is now over-extended and facing debt distress. 'There are some serious factual errors in the article, ...
If You’re Going to Criticize China For Its Lending Practices, Make Sure to At Least Get Your Facts Right
The central bank in Sri Lanka will make a $500 million payment on Tuesday to bondholders, the first tranche of $4.5 billion in debt servicing obligations that Colombo is due to pay this year. The South Asian island state ...
China and the Burgeoning Debt Crisis in Africa
With more than 20 African countries now approaching or confronting debt distress, according to the IMF, a trio of scholars at the London-based international affairs think tank Chatham House mapped out what they think needs to be done to address the situation.
Meet the CityBug: The Newest Chinese-made EV to Go On Sale In South Africa
South Africa lags far behind other middle-income countries in the availability of electric vehicles but Chinese brands like Eleksa are hoping to change with the introduction of new cars like the $15,000 Citybug. The two-door compact seats four and has a ...
6 Chinese Nationals Arrested in Kenyan Crackdown on Illegal Immigration
Kenyan immigration arrested six Chinese nationals last week as part of a broader crackdown against foreigners illegally living and working in the country. The six range in age between 25 and 30 years old, and were detained after authorities received a local tip.
Two Robbers Promptly Arrested After Attempting to Break Into Chinese UN Peacekeeping Base in the DRC
Two suspected robbers were quickly arrested after they scaled the security fence surrounding a Chinese UN peacekeeping base in the South Kivu city of Bukavu in the eastern Democratic Republic of the Congo. The incident took place last Thursday when the ...
From British Cotton to Zanzibar Pepper — The Promise of Huge Fortunes From the China Market is Still Alluring
Centuries ago early British imperialists recognized the vast potential of the China market. They fantasized that if every Chinese man added just one inch to their shirts, it would have the cotton mills of Manchester spinning for decades. That dream of ...
Beijing’s “Wait and See” Approach in Kazakhstan
By Lukas Fiala and Hugo Jones, China Foresight LSE IDEAS Over the two weeks, we closely followed Kazakh people take to the streets to protest against increasing fuel prices after a government decision to lift a price cap. As the protests ...
Investigating Chinese Corruption in the DRC Linked to the “Deal of the Century”
China's role in the landmark Congo-Hold Up corruption scandal was relatively small compared to those of other actors that were found to have funneled millions of dollars to former Congolese president Joseph Kabila and his associates. Nonetheless, investigators found that Chinese ...
Citing National Security, Kenya (Again) Refuses to Release SGR Contracts With China
Kenya's transportation minister Joseph Njoroge reaffirmed the government's longstanding refusal to make public the $3.9 billion contract with the state-owned China Road and Bridge Corporation (CRBC) to build the Standard Gauge Railway. Njoroge's cited a host of reasons for rejecting the ...
Global Times Isn’t Happy With the FT’s Report on Chinese Lending in Africa
This week's Financial Times story by Africa Editor David Pilling and Greater China Correspondent Kathrin Hille on the slowdown in Chinese infrastructure lending in Africa provoked a largely favorable response among international audiences but almost no reaction from Chinese stakeholders... until today.
African Governments Need to Prepare For a New Era of Chinese Lending That Will be Smaller and More Targeted, Says Analyst
The recent pullback in Chinese lending for African infrastructure development makes sense, given debt sustainability problems in more than a third of the countries across the continent, explained Damilola Akinbami, the Lagos-based head of research at Financial Derivatives Company in an interview on the ...