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World Bank: Don’t Blame the Pandemic For the Global South Debt Crisis

Two leading World Bank economists issued a stinging rebuke against policymakers in developing countries who have blamed the worsening debt crisis on the pandemic.  "The seeds were sown long before COVID-19," wrote Marcello Estevão and Sebastian Essl in a ...

Reports: Man at the Center of the Racism for Sale Controversy Arrested in Zambia

According to Chinese news reports, the Chinese national at the center of a brewing controversy over the exploitation of young children in Malawi in the production of viral videos for the Chinese market has been arrested in Zambia. Lu Ke was ...

WEEK IN REVIEW: The First Meeting of the Zambia Creditor Committee to Convene in Paris this Week

The first meeting of the Zambia Creditor Committee, co-chaired by China and France, will convene on Thursday in Paris. IMF officials indicated on Wednesday that if everything proceeds smoothly with restructuring the country's $17.3 billion external debt, a bail-out deal with the fund could be reached by early ...

Zambia’s Debt Talks Set to Get Underway But Final Deal Not Expected This Month

After months of delays, all of Zambia's international creditors will finally convene on Thursday to work out the details of how to restructure the country's $17.3 billion of external debt. The inaugural meeting of the official ...

Debt Warnings Are Flashing in Laos

How China acts in the Zambian debt restructuring process will no doubt be closely watched in Laos. This is because of rising fears that the Southeast Asian country could be the next to fall into debt distress.  Laotian public ...

Analysis from Cobus van Staden

The G7’s New Infrastructure Initiative Could Strengthen China’s Global South Game: Experts

The G7’s new Partnership for Global Infrastructure Investment (PGII), a $600 billion plan to build infrastructure across the Global South and counter China’s Belt and Road Initiative (BRI), could have the effect of improving how Chinese companies do business and could end up improving the BRI itself, according to development experts. 

Some acknowledged that the BRI has been controversial for its environmental and debt impacts. But they also pointed out ...

What is China’s Real Role in Sri Lanka’s Debt Crisis?

Few debt crises have triggered as much disinformation as Sri Lanka’s. The country is currently grappling with a complex debt restructuring process amid its worst economic crisis since independence. The role of Chinese debt has drawn much attention and many false narratives - ...

China’s Top Diplomats for MENA and Sub-Saharan Africa Are Both Touring the Continent

A flurry of high-level Chinese diplomacy is underway in Africa in the run-up to next week's Horn of Africa conference that Beijing is co-hosting with the Ethiopian government. On Sunday, Wang Di, China's top diplomat for the Middle East and North ...

Xi, Hichilema Speak Amid New Allegations China’s “Rookie Status” is Slowing Zambia’s Debt Restructuring Process

Zambian President Hakainde Hichilema raised the sensitive issue of his country's burgeoning debt crisis during a phone call on Tuesday with Chinese President Xi Jinping. President Hichilema, according to a statement on his official Facebook page, ...

WEEK IN REVIEW: China will Serve as Co-Chair of Zambia’s New Creditor Committee

China, not South Africa or France, will serve as co-chair of Zambia's new creditor committee, said Finance Minister Situmbeko Musokotwane.  “It does make sense for our biggest creditor to play a leading part, to take a leading role in the proceedings,” Musokotwane told Bloomberg late last week. "They are ...

Zambia Wants Debt Reduction As Part of Renegotiation: Hichilema

Zambian President Hakainde Hichilema is optimistic that Zambia’s debt renegotiation is now on track, following the recent announcement that China and France will head the creditors’ committee. The committee's first meeting will be next week. Speaking at a mining ...
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