Tag: creditors
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Angola Turns to China for $4.8 Billion Refinery Loan
Angola’s state oil company, Sonangol, is seeking a $4.8 billion loan from Chinese lenders to finance the long-delayed Lobito refinery, reinforcing Luanda’s continued reliance on Beijing for large-scale energy infrastructure funding. The project aims to reduce Angola’s dependence on imported fuel ...
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IMF Releases Sri Lanka Loan Despite Restructure Delays
The International Monetary Fund released $336 million as part of a bailout loan installment for Sri Lanka despite delays in the crucial restructuring of its foreign debt, including to China, the Washington-based lender said Wednesday. The South Asian nation was starting ...
Making Sense of Competing Narratives on Debt and Climate Change
By Tim Hirschel-Burns If you are a casual observer trying to keep up with the news on sovereign debt right now, you have every right to be confused by last month’s stories. According to Bloomberg, ...
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 ...
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 ...
File image of a worker cleaning solar panels installed on the roof of the traditional Gedhe market in Klaten, Central Java. China’s $180 billion clean tech push is reshaping the Global South, with Indonesia a key test of who controls new green industries. (Photo: DEVI RAHMAN / AFP)
By Cobus van Staden, CGSP Head of Research Remember “no blood for oil”? Decades ago, the slogan emblematized opposition to the U.S. invasion of Iraq. Its logic subsequently shifted as the United States experienced a gas and oil revolution thanks to fracking.
Angola Turns to China for $4.8 Billion Refinery Loan
Angola’s state oil company, Sonangol, is seeking a $4.8 billion loan from Chinese lenders to finance the long-delayed Lobito refinery, reinforcing Luanda’s continued reliance on Beijing for large-scale energy infrastructure funding. The project aims to reduce Angola’s dependence on imported fuel ...
IMF Releases Sri Lanka Loan Despite Restructure Delays
The International Monetary Fund released $336 million as part of a bailout loan installment for Sri Lanka despite delays in the crucial restructuring of its foreign debt, including to China, the Washington-based lender said Wednesday. The South Asian nation was starting ...
Making Sense of Competing Narratives on Debt and Climate Change
By Tim Hirschel-Burns If you are a casual observer trying to keep up with the news on sovereign debt right now, you have every right to be confused by last month’s stories. According to Bloomberg, ...
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 ...
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 ...
As Debt Resolution Deadlock Looms, Which Scenarios Face Us?
China’s rapid rise as a global lender has also made it a significant disrupter of the business-as-usual of debt restructuring. While Western stakeholders have framed China’s role as a ‘barrier,’ Beijing insists that it is being treated unfairly in comparison to Western-led ...
China Signals Its Approval of Ethiopian Debt Restructuring Talks
Beijing gave its blessing on Wednesday to the new creditors committee that China's co-chairing with France to overhaul Ethiopia's $30 billion debt. The committee, operating under the auspices of the G20, met for the first time on September 16th and plans ...
Hichilema Acknowledges Zambia’s Debt “Hole” is Bigger Than He Thought
Newly-elected President Hakainde Hichilema's brief honeymoon with the international financial community may have come to an end on Wednesday when he publicly acknowledged what's long been suspected: that Zambia's hidden debts are far more extensive than what's been publicly disclosed. Zambia’s ...
G20 Suspends Debt Repayments For Another Six Months
The G20 is providing developing countries with yet more breathing room to repay their debts. G20 finance ministers and central bank chiefs met yesterday and announced that it would extend the Debt Service Suspension Initiative by another six months from June through December.
The Star Editorial Board: SGR Needs to Go Regional to Repay Its Chinese Creditors
Kenya needs to invest even more money into the embattled SGR if the railway has any chance of becoming financially self-sufficient to the point where it can repay its Chinese creditors, according to an editorial in today's The Star newspaper. For ...
Who’s Next to Fall? Moody’s Points to Mozambique
In the wake of Zambia's default on a portion of its private creditor debt and the subsequent downgrade by international credit ratings agencies, investors are scanning the map to see which country will tumble next. According to the global ratings agency Moody's Investors Services, Mozambique is a ...
Even if Africa’s Creditors Reach a Debt Relief Deal, Moody’s Says It Won’t Matter in the Long Run
The global credit rating agency Moody's Investors Services issued a grim warning this week that even if African governments are able to finalize a debt relief deal with their creditors, it won't help very much. "While debt-service relief will allow some ...