Country: Zambia
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Copper Rebounds on China Stockpiling, Stronger Risk Sentiment
By Eric Onstad Copper prices rebounded on Tuesday after news that China plans to boost stockpiles of copper and as risk sentiment rekindled among global investors. Benchmark three-month copper on the London Metals Exchange gained 3.6% to $13,360 ...
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2025 China-Africa Year in Review
In this special year-end edition of The China in Africa Podcast, Eric, Cobus, and Géraud look back on the top stories of 2025 and look ahead to the key trend to watch in 2026. 📌 ...
China, Zambia Kick-Start Revamp of Mineral Railway
China and Zambia launched on Thursday a $1.4 billion project to modernize a railway line that will transport minerals from the copper-rich southern African country to Indian Ocean ports for export. The upgrade comes as the United States and other partners ...
Chinese Premier Visits Zambia Amid Geopolitical Competition
Chinese Premier Li Qiang is in Zambia, the first high-level Chinese leader to visit the country since 2007. His trip comes as the country emerges from a years-long financial crisis Li’s visit comes as China, Zambia, and Tanzania embark on ...
WEEK IN REVIEW: Seoul Summit Signals Reset in China–U.S. Ties
U.S. President Donald Trump left South Korea after the conclusion of his bilateral summit with his Chinese counterpart, Xi Jinping, earlier today. Trump reportedly said the meeting was “amazing” and that the two “agreed on almost everything.” In his opening statement, Xi said it is normal for the ...
Q&A: The Political Implications of the Sino-Metals Disaster in Zambia
When the Sino-Metals Leach, a Chinese-owned copper processing company, experienced a tailings dam collapse in February in Zambia, the government, through the Ministry of Green Economy and Environment, dismissed reports that 1.5 million cubic meters of acid waste had been released. Officials also claimed that water ...
Africa’s Energy Future: China’s Role and the Power of Data
As Africa confronts persistent energy gaps and mounting development challenges, China’s growing role in the continent’s electricity sector has far-reaching economic and geopolitical implications. Understanding the scope and impact of Chinese investment is crucial—not only for powering Africa’s industrial and social ...
Zambian Perceptions of China Rebound After Ten-Year Decline, Says Afrobarometer
Public opinion of China among Zambians rebounded for the first time last year after a decade of steadily falling, according to the findings of Afrobarometer's latest survey. While Zambians were more upbeat about China when asked in relation to other countries ...
Zambia’s Lawsuit Against Sino-Metal Sparks Chinese Social Media Storm
International media particularly in the Western countries but also in South Africa and India extensively covered the Sino-Metals Leach tailings disaster that happened back in February, amplifying its impact on lives of Zambian communities and the environment. However, Chinese media maintained a conspicuous silence for ...
Chinese Online Outrage Over $80 Billion Zambia River Suit
More than six months after 50,000 liters of toxic water from a Chinese-run mining site spilled into Zambia's Kafue River, there's still no resolution to what's become a massive environmental crisis. The government is siding ...
China, Zambia and Tanzania Seal $1.4 Billion Deal to Modernize Tazara Railway
More than a year after a memorandum of understanding was signed in Beijing, China, Zambia and Tanzania have finalized an agreement to rehabilitate and modernize the Tazara railway. Built by China in the 1970s, the strategic line links Zambia to Tanzania and runs to the port of ...
China Signs Deal to Upgrade Iconic African Rail Line
China, Zambia, and Tanzania signed a $1.4 billion deal to upgrade the TAZARA rail line between the two countries. The line is an icon of Africa-China cooperation, with its first iteration supported by Mao Zedong in the 1970s. The ...
Beijing Starts Reining In Non-Ferrous Producers, Puts Quality First
China on Sunday announced a two-year plan to tighten control of its non-ferrous metals industry. The policy aims to curb cut-throat competition and shift growth toward higher-value, cleaner production. The plan, issued by the Ministry of Industry and Information Technology, ...
$80 Billion Zambian Lawsuit Triggers Outrage on Chinese Social Media
China’s social media has been buzzing after Zambian farmers filed an $80 billion lawsuit against Sino-Metals, a Chinese-owned copper mining company, accusing it of causing an environmental disaster following the collapse of a mining waste dam earlier this year. Beyond the ...
Powering Africa: China’s Expanding Role in the Continent’s Energy Future
This report, authored by International Development expert Dr. Frangton Chiyemura, examines the scale and significance of Chinese-backed energy projects across Africa. From solar parks in Mali to massive hydropower dams in Zambia, it explains how these initiatives are distributed, why they matter, and what they mean ...
Chinese Copper Miner and Processor Faces Multiple Environmental Lawsuits From Zambian Communities
Lawyers representing communities and civil society groups in Zambia have opened settlement talks with Sino-Metals, a Chinese-owned copper mining and processing company, over one of the country’s worst toxic spills, raising the possibility of an out-of-court resolution in multiple cases that could reshape corporate accountability in Africa. ...
Chinese Copper Miner and Processor Faces Multiple Environmental Lawsuits From Zambian Communities
Lawyers representing communities and civil society groups in Zambia have opened settlement talks with a Chinese-owned copper mining and processing company, over one of the country’s worst toxic spills, raising the possibility of an out-of-court resolution in multiple cases that could reshape corporate accountability in Africa.
Zambian Farmers Sue Chinese Mining Firms Over Toxic Spill
By Clément Varanges Almost 200 people affected by a major toxic spill at a northern Zambian mine have filed an $80-billion lawsuit against the Chinese firm that owns the mine, according to legal documents seen by AFP Wednesday. ...
Zambia’s Chinese-Built Solar Plant to Keep Mines Running and Shape Its Energy Future
In a country where rolling blackouts last up to 17 hours a day, Zambia’s new $100 million Chisamba solar plant offers both hope and hard choices. The project, built by the Chinese state-run energy giant PowerChina and financed by Zambia’s national utility ZESCO, is designed ...
Lobito Corridor Not Intended to Counter China in Africa, Says New CEO
The Lobito Atlantic Railway (LAR) corridor is purely a commercial venture with “zero geopolitical considerations," said the new CEO, Nicholas Fournier, in an interview with the South China Morning Post newspaper. Fournier said the upgrade of the massive 1,800km-long railway that ends ...
Japan Revives Nacala Corridor in Africa as It Seeks to Cut China Out of Mineral Supply Chains
A much more subdued Tokyo International Conference on African Development (TICAD) wrapped up in Yokohama on Friday, which lacked many of the big check pledges of previous TICAD gatherings and instead focused on fostering trade ties between Japan and Africa. In his ...
Zambian Government Tries to Calm Fears Over Contaminated Water From Chinese Mine Disaster
The Zambian government is seeking to reassure the public that municipal water supplies in communities along the Kafue River are still safe, even though recent tests detected excessive levels of heavy metals following a major environmental disaster at a Chinese-owned copper mine six months ago.
Murder of Chinese Farm Owner in Zambia Shocks Nation, Sparks Unprecedented Outcry in China
In what has become one of the most widely followed cases of a Chinese citizen murdered in Africa to date, the killing of 57-year-old Chinese farm owner Ms. Shi in Zambia has sparked nationwide outrage and soul-searching across China. Unlike previous cases that circulated mainly within ...
A Turbulent Week for China-Africa Media Narratives
Over the past week, sharply contrasting images of Chinese engagement in Africa surfaced online. Anger erupted on social media over the release of yet another violent video that shows Congolese soldiers brutally beating local miners purportedly at the behest of Chinese ...
Zambian Documentary Slams Chinese Companies’ Environmental Record; Embassy Responds, Accuses Producers of “Hidden Motive”
The Chinese embassy in Zambia denounced an hour-long documentary program made by the independent national daily newspaper News Diggers that detailed extensive environmental and labor violations committed by Chinese mining companies operating in the country.
China E-Mobility Weekly Digest: Morocco Secures $282 Million Chinese Battery Plant Pushing Deeper Into EV Supply Chain
This is a free preview of the upcoming Africa EV Weekly Digest, part of the new CGSP Intelligence service. Topline Insight Chinese battery materials giant Tinci Materials Technology has signed a ...
Chinese Community Alarmed as Ex-Worker Kills Boss in Zambia – Latest in Disturbing Trend
In a crime that exposes the deadly risks of insider betrayal, Chinese farm owner Zhai Jianfeng was killed on May 29 in a meticulously planned robbery carried out, in part, by his own current and former employees, African Chinese Weekly reported. The attack, which unfolded at ...
Zambia Banks on China-Backed Rail Upgrade to Boost Mining Exports
Two great railroads nearly bisect the southern central belt of Africa, stretching from the Atlantic and Indian oceans respectively, poised to shuttle key metals from the mineral-rich center of the continent to markets abroad. For Zambia, the second-largest copper exporter in Africa, these railways represent the future ...
Zambia’s Kafue River Disaster Puts China’s Mining Record Under Fire
In February, a tailings dam at a Chinese-owned mine in Zambia collapsed, releasing 50 million liters of acid waste into the Kafue River—a critical water source for millions. The spill sparked national outrage and raised urgent questions about environmental oversight, ...
WEEK IN REVIEW: Chinese Mining Disaster in Zambia
Millions of Zambians along the Kafue River are coming to grips with the devastating environmental impact brought about by a massive acid spill from a Chinese-run copper mine. A tailings dam broke on February 18th, sending 50 million liters of toxic ...
China, the U.S., and the Competition for Africa’s Strategic Resources
Southern Africa has become a focal point of geopolitical competition, with the U.S., China, and other global powers maneuvering for influence over key infrastructure projects and critical resources. The Lobito Corridor Project, a railway and logistics ...
USAID’s Closure Threatens to Derail U.S. Involvement in the Lobito Corridor
U.S. participation in the Lobito Corridor project that aims to challenge China's dominance of African critical resource supply chains is now in jeopardy due to the Trump administration's decision this month to shut down the U.S. Agency for International Development (USAID). ...
Zambia Reaching End of Debt Restructuring Process
Zambia will soon be eligible once again for foreign financing as its debt restructuring negotiations are nearing the end, a French diplomatic source said Tuesday. France, which, along with China, heads the committee of public sector creditors for Zambia, was earlier ...
China’s Copper Play in Africa: High Stakes, Riches, and Risks in Congo and Zambia
Editor's Note: The following story is an AI-generated summary of a report by the China Nonferrous Metals Research Institute. The original story was published on the Institute's WeChat page in Chinese. CGSP editors have carefully reviewed the translation and the summary to ensure that it accurately ...
WEEK in REVIEW: Chinese FM Criticizes US Missile Deployment in the Philippines
Chinese naval and air forces conducted patrols around a flashpoint reef in the South China Sea on Saturday after a slew of tense encounters with the Philippines in the disputed waterway in recent months. The patrols coincided with joint exercises carried out by the United States, Australia, Japan, ...
Connecting to African Power: Trends from The China-Global South Project’s Africa-China Energy Tracker
As Africa moves into the second quarter of this century, it faces a complex set of opportunities and perils. The continent’s vibrant youth population, mineral wealth, and vast capacity for renewable energy are examples of such opportunities. However, the continent is also subject to a nexus of ...
Railroads and Rivalries in Southern Africa
The U.S. and China plan to spend billions of dollars refurbishing key railway lines in southern Africa that link critical resource mining hubs in Zambia and the Democratic Republic of the Congo with ports on both sides of the continent.
[DOUBLE EPISODE] The China-Africa Summit Debrief
The three-day Forum on China-Africa Cooperation (FOCAC) summit wrapped up in Beijing on Friday. The big headline from this year's gathering was the announcement that China will provide $50.7 billion in financing to African countries over the next three years.
WEEK IN REVIEW: China Signs Deal to Revamp TAZARA Railway
China and the Philippines accused each other of deliberately ramming their coast guard ships near the disputed Sabina Shoal on Saturday. A China Coast Guard (CCG) spokesperson said the Philippines ship “deliberately collided with” a Chinese vessel. Meanwhile, officials in Manila said the opposite: that a CCG ship “directly ...
China Pushes Smaller, Smarter Loans to Africa to Shield From Risks
By Matthew Walsh China's years of splashing cash on big-ticket infrastructure projects in Africa may be over, analysts say, with Beijing seeking to shield itself from risky, indebted partners on the continent as it grapples with a slowing economy at home. ...
China’s Xi Promises $50 Billion for Africa Over Next Three Years
By Sam Davies Chinese President Xi Jinping on Thursday pledged over $50 billion in financing for Africa over the next three years, promising to deepen cooperation in infrastructure and trade with the continent as he addressed Beijing's biggest summit since the ...
Empowering Africa: How Host States Can Influence Chinese-Supported Power Projects
By Naa Adjekai Adjei Over the past decade, Chinese investments have significantly bolstered Africa's infrastructure landscape. However, prevailing narratives have often emphasized China's influence, overshadowing the critical role of African host states in determining ...
African Priorities at the Upcoming China Summit
African leaders and their delegations are making final preparations to travel to Beijing soon for the Forum on China-Africa Cooperation (FOCAC) summit that will begin on September 4th. This year's gathering comes at a critical time in the relationship between these ...
El Niño Triggers Food Crisis in Southern Africa
The brutal drought has been brought on primarily by El Niño. This natural, recurring weather phenomenon raises surface temperatures across parts of the Pacific Ocean. These warmer patches impact weather patterns globally, including by lowering rain levels in Southern Africa.
WEEK IN REVIEW: South Africa introduced a 10% tariff on all imported solar panels, cells, and modules, most of which come from China.
Chinese President Xi Jinping will visit Kazakstan and Tajikistan this week during a five-day tour that begins on Tuesday. Xi will also attend a two-day leaders summit of the Shanghai Cooperation Organization that begins on Wednesday in Astana. (AGENCE FRANCE-PRESSE) ...
WEEK IN REVIEW: Chinese Premier Li Qiang Embarked on a Three-Nation, Week-Long Tour of Asia-Pacific Countries on Thursday
Chinese Premier Li Qiang will embark on a three-nation, week-long tour of Asia-Pacific countries on Thursday that will include stops in Malaysia, New Zealand, and Australia. Li's visit to both NZ and Australia will be the first by a Chinese premier in seven years and the first to ...
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
Developing countries spent a staggering $294 billion to service their debts in 2022, a figure that's expected to balloon by a third this year, according to the findings of a new report published by the UK NGO ONE Campaign. While China ...
Zambia’s Finance Minister Acknowledged His Country Borrowed Too Much From China
Zambian Finance Minister Situmbeko Musokotwane said the quiet part out loud when he acknowledged that previous administrations borrowed too much money from China. “The level of debt that Zambia acquired from China was way, way too high,” he told the Wall ...
WEEK IN REVIEW: Chinese Premier Li Qiang Said Beijing Will Assist Sri Lanka in Its Debt Restructuring Process
Chinese Prime Minister Li Qiang provided fresh assurances on Tuesday to his Sri Lankan counterpart Dinesh Gunawardena that Beijing will assist Colombo in its debt restructuring process. Gunawardena is visiting Beijing this week and raised the issue of Sri Lanka's $7.1 billion outstanding loans owed to Chinese creditors.
Tang Xiaoyang on Why the U.S., Not China is to Blame for Africa’s Debt Problems
While many in the West still contend Africa's worsening debt crisis is largely due to excessive Chinese lending, Tsinghua University Professor Tang Xiaoyang argues that accusation just isn't true. Instead, the well-known China-Africa scholar contends ...
Zambia is Very Close to Finalizing Its Debt Restructuring, But There’s Still One More Chinese Obstacle in the Way
Zambia's breakthrough deal on Monday to restructure $3 billion of Eurobond debt helps the southern African country move tantalizingly close to finally ending three years of brutal negotiations with its various creditors. Even though President Haikinde Hichilema's government has already negotiated a ...
Letting Some Get Wealthy First
By Felix Brender 王哲謙 This week, the Communist Party set a rather ambitious GDP growth target of 5%, doubling down on China’s growth narrative and development success story without qualifications. At the same time, CNN and Al Jazeera are reporting on PRC citizens ...
Investors Celebrate Zambia’s Debt Deal With China by Snapping Up Government Bonds
Zambian bonds traded at their highest levels in 18 months on Monday following news that Lusaka reached a debt deal last week with official Chinese creditors. “China agreeing on terms means that we can get on with the private-creditor restructuring,” Sam ...
China Proposes Billion-Dollar Revamp of the Legendary Tazara Railway
The competition between the United States and China to refurbish some of Africa's decrepit railways intensified this week when the Chinese government presented a billion-dollar proposal to rebuild the Tazara railway linking Zambia's copperbelt to the Tanzanian port of Dar es Salaam. ...
Africa’s Debt Dilemma: The Urgent Need for More Equitable Borrowing
For the first time in years, a few African countries are venturing back into the bond market to raise funds for infrastructure and to pay down their debts. However, borrowing more from private creditors is a risky move given the difficulties ...
China Proposes Billion-Dollar Revamp of the Legendary Tazara Railway
The competition between the United States and China to refurbish some of Africa's decrepit railways intensified this week when the Chinese government presented a billion-dollar proposal to rebuild the Tazara railway linking Zambia's Copperbelt to the Tanzanian port of Dar es Salaam. ...
Zambia Expresses Optimism It Can Allay Chinese Concerns Over Debt Deal
The Zambian Finance Minister Situmbeko Musokotwane said he's hopeful his country's three-year debt restructuring odyssey can finally be resolved sometime before June. Musokotwane was cautious about providing any specific timetable but said on Wednesday that he's nonetheless optimistic he can resolve Chinese concerns ...
U.S. Mining Start-Up Makes Huge Copper Discovery in Zambia
A California-based mining start-up, KoBold Metals, announced that it had discovered Zambia's largest copper deposit in a century. KoBold president Josh Goldman said on Monday the company's Mingomba mine in northern Zambia is poised to become one of the world's top ...
WEEK IN REVIEW: Nauru Officially Switched Diplomatic Allegiance From Taiwan to China
Indian naval forces are closely monitoring the movements of a Chinese research vessel operating in the Indian Ocean that is making its way towards the Maldives. Although these Chinese research ships are not officially designated as military vessels, the Indian government suspects the data they collect is used ...
Frantic Attempts to Rescue Seven Workers Trapped in Chinese Mine in Zambia
Zambian authorities are rushing to pump water and mud from a Chinese-owned mine in time to rescue five Zambian and two Chinese workers trapped underground. The workers were caught by an inrush of water on Monday at the Macrolink mine, about ...
Zambian and Chinese Miners Trapped Underground
Seven miners, including five Zambians and two Chinese nationals, are reportedly stuck in Zambia’s Chinese-owned Macrolink Mine. The mine is still under construction and hasn’t been commissioned yet. The miners are trapped 235 meters below the surface by rising water. One ...
WEEK IN REVIEW: Ethiopia Debt Update | China @COP28 | Chinese Energy Projects in Africa
Ethiopia is the latest African country that is now teetering on the verge of default after the government announced this week that it would not be able to make a $33 million bond payment. Eric speaks with Mark Bohlund, a senior ...
A Primer on China’s Role in the Worsening Zambian Debt Crisis
Zambia's debt restructuring deal that was hailed earlier this year as a "landmark" breakthrough for developing countries is now in shambles. Talks broke down a couple of weeks ago when bilateral creditors led by China and France objected to the terms ...
The Implosion of Zambia’s Debt Deal Signals Wider Worries
Delays in restructuring Zambian debt are weighing on the country’s economy and raise wider questions about the future of debt relief mechanisms around the world. Zambia appears stuck since the announcement last Monday that its committee of official creditors rejected a deal between ...
WEEK IN REVIEW: Zambia Debt | Lula’s China Diss | China-Africa Journalism
Zambia suffered a major setback this week in its nearly three-year odyssey to restructure $32 billion of debt when the country's bilateral creditors led by China and France pushed back against bondholders. Plus, Brazilian President Luiz Inácio Lula da Silva issued ...
Poor Countries Seek Bilateral Debt-Relief Efforts After Rebuf From IMF and World Bank
The International Monetary Fund's director dismissed calls debt cancellation from Ghana, Nigeria and other countries on the continent, saying it would adversely impact domestic creditors. (INVESTING) ETHIOPIA: After receiving debt relief from China, Ethiopia is reviving ...
Zambia, DRC to Build New Road to Expedite Copper/Cobalt Exports Via Tanzania
Zambia's Hakainde Hichilema and the Democratic Republic of the Congo's Félix Tshisekedi laid the foundation stone for a new 345-meter bridge over the Luapula River that divides their two countries as part of an ambitious new road project that will make it a lot easier to transport copper ...
$1.3 Billion Chinese Investment in Zambian Copper Sector as EU Readies Competing Deal
The Chinese mining giant China Non-Ferrous Metals Mining Company (CNMC) announced a plan to invest $1.3 billion in Zambia across a range of sectors. The agreement, announced by CNMC chairperson Xi Zhengping, includes a $400 million investment in the Chambishi copper mine, run by its subsidiary Non-Ferrous Corporation ...
How China’s Economic Slowdown Impacts Developing Countries
The Chinese economy is in trouble. Exports, manufacturing output, and investment are all down. Unemployment, particularly among young people is up. Provincial debt is now at a record $8 trillion while a burgeoning property crisis has eliminated a once reliable source ...
Zambian President Returns Home From Week-Long Visit to China, No Updates on Debt Restructuring Deal
Zambian President Haikinde Hichilema returned home this weekend from a week-long trip to China that appeared to be as much about sightseeing as it was about conducting substantive diplomacy. During the last stop of his tour in Beijing on Friday, Hichilema met ...
Zambian President Haikinde Hichilema Does the Rounds of Shenzhen’s Tech Giants
Zambian President Haikinde Hichilema devoted the third day of his week-long China tour to visiting some of the country's largest tech companies headquartered in the southern megacity of Shenzhen. The president visited the headquarters of internet giant Tencent, automaker BYD and ...
Forget About Everything Else, Hichilema’s in China to Resolve Zambia’s Still Unfinished Debt Restructuring Deal
Zambian President Haikinde Hichilema is spending much of this week visiting Chinese business hubs in Shenzhen and Shanghai, but the real focus of this trip will be dealt with later in Beijing, where he will tackle the sensitive issue of debt. ...
Zambian President Arrives in China for Crucial Debt Talks
Zambian President Haikinde Hichilema landed in the southern Chinese megacity of Shenzhen on Sunday to kick off a six-day visit to China that will include highly-anticipated talks with his Chinese counterpart Xi Jinping to finalize the details of a debt restructuring deal signed last June.
Translation: How a Middle-Aged Chinese Divorceé is Enjoying His “Next Life” in a Big House With a Zambian Wife
This article was published on 驻外之家 (Home Abroad), a popular WeChat page that focuses on the stories of Chinese expatriates in Africa. This channel provides a more detailed picture of Chinese who came to Africa, stayed in Africa, and, in many instances, eventually became part of the ...
BRICS Leaders Summit Preview
The Chinese Foreign Ministry confirmed President Xi Jinping will travel to South Africa to attend the upcoming BRICS summit, the first time he'll visit Africa since 2018. Xi will be joined by three other of the group's leaders along with Russian ...
An Unforgettable Journey on East Africa’s Chinese-Built Railways, Old and New
“You seem to have been working for many years for the TAZARA,” curious about the railway, I asked the old electrician. “I’ve been working for this railway for 30 years.” He was repairing wires between carriages.
Japan Moves to Build China-Free EV Battery Supply Chain
Nishimura Yasutoshi, Japan's economy and industry minister, spent last week crisscrossing southern Africa on a five-nation tour at the behest of his country's auto industry that is looking for new supplies of the raw materials needed to power electric vehicles. Japan, like ...
Is China Setting the Agenda for Global South Debt Restructuring?
In June, Zambia reached what's been described as a landmark debt restructuring deal that for the first time brought together the country's bilateral creditors including China, traditional Paris Club lenders and bondholders. While the deal ...
Rwanda’s New Chinese-Funded, Built Hydropower Plant Progresses Amid Mounting Concerns Over Drought
A Chinese state-owned engineering and construction company successfully completed river closure last week marking the start of the main building phase of the $214 million Nyabarongo II Multipurpose Project in Rwanda. In the country’s quest for more renewable energy to ...
Graph of the Day: China’s Real Share of African Debt
Amid the news that Zambia has moved towards the official start of negotiations with its private creditors, it is worthwhile remembering that China's share of African debt is far outstripped by debt to private sector lenders in the U.S. and Europe and Western-led multilateral lenders. This is ...
WEEK IN REVIEW: China and Zambia’s Landmark Debt Deal
After nearly two years of painful, drawn-out negotiations, Zambia finally closed a deal to restructure its bilateral external debt. The announcement was made last week at a global development finance summit in Paris and the new agreement is widely seen as ...
WEEK IN REVIEW: Mutual Expulsions of Indian and Chinese Reporters Almost Complete
The mutual expulsions of Indian and Chinese reporters are now almost complete. The last Chinese journalist in India, a reporter for Xinhua, was expelled last week, leaving just one reporter from the Press Trust of India still in China as the only remaining Indian foreign correspondent.
Welcome to the New Era Where China Writes the Rules
Everyone's hailing the Zambian debt restructuring agreement that was unveiled on Friday in Paris as a major breakthrough in debt relief for the world's poorest countries. While we don't have a lot of information about what's specifically stipulated in the deal, ...
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 ...
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 ...
New Chinese-Backed Refinery Could Help Angola Shift From Importing Petroleum Products to Becoming an Exporter
Flush with petroleum, Angola is one of the world’s largest oil producers yet still starved for energy. The problem is that the country lacks sufficient refining capacity, forcing it, like other African oil-exporting countries, to import most of its petroleum products. ...
U.S. Treasury Secretary, Chinese Premier Both Scheduled to Attend Global Financial Conference in Paris
U.S. Treasury Secretary Janet Yellen and Chinese Premier Li Qiang are both scheduled to attend the Summit for a New Global Financial Pact in Paris next week, where debt relief for the world's poorest countries is expected to be high on the agenda.
Proposed New York Law Could Reshape Debt Negotiations Around the World
A bill currently under consideration in New York State could reshape sovereign debt renegotiations around the world by making private creditors accept the same losses as the U.S. government would as a sovereign creditor instead of holding out for a full payback.
How Zambia’s Debt Mix is Forecast to Evolve
This projection of how Zambia’s public and publicly guaranteed (PPG) debt servicing will shift over the next few years showed up in a recent public lecture by the Johns Hopkins University debt expert Deborah Brautigam at Peking University. PPG refers to ...
Ghana Gets Debt Breakthrough
The executive board of the International Monetary Fund (IMF) on Wednesday approved a $3 billion debt bailout deal for Ghana. The debt-distressed country will receive an immediate payment of $600 million. The announcement is a win for China, which co-chaired the official creditor ...
The World Bank and the IMF Are Not Aligned on China’s Response to Global South Debt Crisis
Just a few days after International Monetary Fund Managing Director Kristalina Georgieva said real progress is being made in unblocking the impasse between China and developing countries over debt relief, her counterpart at the World Bank, David Malpass, conveyed a very different message on Bloomberg Television.
With Chinese Assurances, IMF Chief Expresses New Optimism Zambia Debt Deal Now Imminent
The head of the International Monetary Fund, Kristalina Georgieva, expressed renewed confidence that China, together with Zambia's other major creditors, is close to finalizing a debt deal that will clear the way for a $1.3 billion IMF emergency financial package.
Understanding China’s Role in the Developing World Debt Crisis (Part 2)
The widely debunked Chinese debt trap narrative re-surfaced again in Washington, D.C. when the top U.S. military commander for Africa General Michael Langley testified before Congress -- highlighting the urgent need for better information about Chinese lending practices in developing countries. ...
Update on China’s Role in the Burgeoning Global South Debt Crisis
There was a lot of excitement earlier this month at the IMF and World Bank's annual gathering in Washington, D.C. about rumors that the impasse between China and multilateral development banks (MDBs) had been resolved. That stalemate between the Chinese and ...
Zambia’s Creditors to Reconvene in May, Amid Growing Global Debt Concern
Bloomberg reports that Zambia’s official creditor committee, which is co-led by China, has reportedly made progress in meetings this week, which will lead to them reconvening for a follow-up session next month. The next meeting could see them signing a memorandum ...
Chinese Company Targets Zimbabwe’s Solar Power Generation Amidst Crippling Blackouts
The China Energy Engineering Corp. has propositioned the Zimbabwean government for the construction of a 1,000-megawatt (MW) floating solar plant on the Kariba dam along the Zambezi River. At nearly $1 billion, the project will be on the world’s largest man-made ...
China’s Central Bank Chief Signals Beijing Will Cooperate With Other International Creditors on Debt Relief
The head of China's central bank, Yi Gang, provided the clearest indication to date Beijing is willing to retreat from its demand that multilateral development banks (MDBs) also take write-downs on their loans to the world's poorest countries. Yi told participants at ...
Photos by BAY ISMOYO / AFP
In 2025, China remained a top-three source of Foreign Direct Investment (FDI) in Southeast Asia, following only the U.S. and intra-Southeast Asian flows. While much of the investment falls under the umbrella of the Belt and Road Initiative (BRI), it is important to distinguish between broad private investment and state-led ...
