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New Research Reveals Sri Lanka’s Debts to China Are Much Higher Than Previously Reported

New data reveals Sri Lankan borrowers owe China's main policy banks significantly more money than had been previously reported, an important revelation as the embattled South Asian country lobbies its creditors for debt relief. Chinese loans to Sri Lanka totaled $7.4 ...

Analysis from Cobus van Staden

Jiang Zemin Created the Africa-China Relationship As We Know It Today

Reflections on the legacy of Jiang Zemin, China’s president from 1993 to 2003, who passed away on Wednesday, emphasized how he presided over a decade of explosive economic growth. Fewer have pointed out that he was also a key architect of China’s current relationship with Africa. 
After the Mao era, emblematized by Chinese involvement in African anti-colonial struggles, the relationship went dormant as China focused on building economic ties ...

Long Awaited Debt Restructuring Talks Between China and Sri Lanka Get Underway

Sri Lankan President Ranil Wickremesinghe confirmed that after months of inaction, debt restructuring talks with China have finally begun.  The President said in a statement on Sunday that he personally spoke with Chinese Finance Minister ...

Debt in Africa: Everyone’s Watching What China Does in Zambia

The United Nations Development Program issued a new report this week that once again sounded the alarm on the urgent need for debt relief in the world's poorest countries. The UNDP said 54 countries are at risk, with African countries accounting ...

After Months of Delay, China Finally Begins Debt Restructuring Talks With Sri Lanka

Sri Lankan President Ranil Wickremesinghe informed the country's parliament late last week that China had finally agreed to begin long-desired debt restructuring talks. During a recent visit to Tokyo, President Wickremesinghe also called on Japan, Sri Lanka's other main creditor in addition to China and ...

As China Nitpicks Terms, Asia’s Debt Bomb is Ticking…

As technocrats in Sri Lanka and Laos grapple with renegotiating loans to a variety of creditors, including China, the region's creeping debt distress is slowly tipping into a full-blown humanitarian disaster.  The situation is the most critical in Sri Lanka, where ...

Understanding the Significance of China’s Interest-Free Loans Cancelation

By Oyintarelado Moses and Jyhjong Hwang On August 19, 2022, China announced it would waive 23 interest-free loans (IFLs) with maturity by the end of 2021 for 17 unspecified African countries worth an unspecified total amount. This announcement comes as ...

Sri Lanka Calls On Same Financial Advisory Firm That Worked With Zambia on Debt Restructuring

The Sri Lankan government hired the boutique Paris-based financial advisory firm Lazard to negotiate on its behalf with bilateral creditors in China, Japan, and India, among others. If that firm sounds familiar, it's because it's the same company that was brought in ...

Zambia is Going to Look Easy Compared to the Financial Mess in Sri Lanka

A broad cross-section of the international financial community is warning that Sri Lanka's major creditors must move quickly to restructure the country's debts or else full-scale economic collapse is inevitable. The latest warning signal came from the Hong Kong office of ...

IMF Visit Adds Pressure on China to Support Sri Lanka Debt Restructuring

A team from the International Monetary Fund is in Sri Lanka for the second time in three months to discuss debt restructuring amid calls for China to align itself with the country’s other creditors. Sri Lanka’s new 

How Will the Debt Crisis Affect China’s Image as a Development Partner?

By Lukas Fiala As the debt crisis across the Global South accelerates, many commentators are weighing in on the drivers and implications of repayment difficulties and defaults. Unsurprisingly, as a major bilateral creditor to many governments across the developing world, China is ...

Sri Lanka Relents to Indian Pressure and Requests China to Defer Military Ship’s Arrival

Sri Lanka said on Monday it had asked China to defer the planned visit of a Chinese ship to the island country after initially approving its arrival this week, yielding to diplomatic pressure from neighbor India to keep the military vessel out.
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[NEW PODCAST] Why It's Not China's Fault That Its Trade With Africa is So Distorted

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