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China-Africa Relations in 2024: Insights From Six Experts

China's engagement in Africa is at a critical inflection point where many of the various stakeholders in this important relationship are re-evaluating what they want from the other. In this special episode, we speak with ...

Chinese Loans Had Clear Development Impact in Africa: Report

The adjustment of Chinese lending to Africa and other parts of the Global South in line with changing economic conditions at home will open space for other countries, said IMF Managing Director Kristalina Georgieva. Speaking at a 

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 ...

Financial Mega Firm BlackRock, China Both Blamed For Slowing Zambia’s Debt Restructuring Process

Zambia's burgeoning debt crisis is once again in the spotlight as stakeholders exchange blame over who's responsible for blocking a comprehensive deal to restructure the country's $17.3 billion of external debt. Anti-poverty activists are accusing BlackRock, the $10 trillion asset management ...

Ghana President Akufo-Addo Calls For the Cancellation of All African Debts

Ghanaian President Nana Addo Dankwa Akufo-Addo issued an urgent call for immediate economic relief, including the total cancellation of all debts owed by African countries, during his address on Tuesday at the Summit on Financing African Economies. Without the ‘fiscal room to breathe,’ Africa could truly become ‘the forgotten continent, ...

Analysis from Cobus van Staden

BRICS Announces Numerous New Initiatives

The BRICS group wrapped up its two-day leaders’ summit in Rio de Janeiro on Monday. The summit’s final communique is a 16,000-word doorstop that covers numerous issues from economics to education.
The communique avoids any direct mention of the United States, and references to “unilateralism” and other coded criticism are also relatively scarce. Rather, the communique keeps the focus on the BRICS’ vision of the strengthening and reform of the global multilateral system ...

Tanzania’s Relationship Status With China: It’s Complicated

Chinese Foreign Minister Wang Yi's January visit to Tanzania highlighted the East African country's growing importance to Beijing. It's a strategically located Belt and Road country that has the potential to serve as a major gateway to inland regional markets along ...

Cyril Ramaphosa Renews Calls For Urgent Debt Relief for Africa. But is Anyone Listening?

South African President and Chair of the African Union Cyril Ramaphosa issued yet another urgent appeal for the international community to provide immediate debt relief for Africa. "Urgent and collective action is needed there to stave off that crisis and to maintain the invaluable social gains that ...

Forget About Repayment Holidays, Kenya Wants Its Creditors (Ahem… China) To Cancel Some of Its Debts

The Kenyan Treasury is reportedly considering a new plan to approach its creditors to ask for outright cancellation of some of its debt, according to a report in Business Daily. Although a final decision has yet to be made, the Treasury is apparently considering ...

Let’s Stop Pretending the G20 Actually Matters Anymore

The Group of 20 wrapped up yet another high-profile summit on Sunday that will once again disappoint anyone looking to the world's wealthiest countries for leadership in resolving the developing world's burgeoning debt crisis. The final communiqué basically repeated the same, ...

G20 Agrees to Give Poorest Nations Just the Bare Minimum for Debt Relief

Finance ministers and central bankers from the Group of 20 wealthy nations agreed to a bare-bones debt relief package on Wednesday that will extend the G20's Debt Service Suspension Initiative (DSSI) by six months until June 2021. The group ...

President Edgar Lungu Just Straight Up Asked Xi Jinping for Zambia’s Debts to be Cancelled

African appeals for Chinese debt relief have until recently been somewhat vague and indirect, at least publicly. Well, that changed when the spokesman for Edgar Lungu released details of Zambian president's call on Monday with his Chinese counterpart Xi Jinping.  “President ...

China’s Ambassador to the UK Reiterates that Beijing Prefers to Work With Borrowers Bilaterally

In a Q&A session broadcast on Twitter, China's influential ambassador to the United Kingdom, Liu Xiaoming, admitted publicly that Beijing prefers to work with borrowers bilaterally rather than through multilateral organizations because it's "more effective."
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