Tag: debt
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Sri Lanka President to Visit Key Lender China
Sri Lankan President Anura Kumara Dissanayake will travel to the island's largest bilateral lender, China, for talks in January, he said on Saturday, days after completing a long-delayed foreign debt restructuring. China accounted for more than half of Sri Lanka's bilateral ...
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 Xi Vows to Deepen Infrastructure Cooperation With Nepal: State Media
President Xi Jinping on Tuesday told Nepali Prime Minister Khadga Prasad Sharma Oli that China will offer more support to develop the country's infrastructure, Chinese state media reported. The leader of the Himalayan republic was in Beijing on Tuesday to meet ...
Lourenço Says He Would Not Take a Another Resource-for-Infrastructure Deal With China
Over a twenty-year period beginning in 2002, Angola borrowed a staggering $45 billion from China, accounting for a third of all Chinese lending on the continent. The Angolan government still owes Chinese creditors an estimated $17 billion and restructured a large ...
Two Projects in Asia and Africa Highlight the New Realities of Chinese Development Finance
Two very interesting stories this week highlight the complexity of China's development finance initiatives in Asia and Africa. In Cambodia, people close to the massive $1.7 billion Funan Techo canal project hint that Chinese financing isn't as secure as Prime Minister Hun Manet made it sound when ...
China’s “Small and Beautiful” Path in Overseas Energy Finance Signals a Greener Shift, but Will It Grow?
By Jiaqi Lu The era of carbon-intensive mega-investments by China in global energy infrastructure may be coming to an end. Recent findings from the China’s Global Energy Finance Database, managed by the Boston University ...
Debt-Saddled Laos Struggles to Tame Rampant Inflation
By Thanaporn Promyamyai and Damon Wake Suffocating under a mountain of debt to China, Laos is struggling to tame rampant inflation, with food prices rising so sharply that a growing number of households are resorting to foraging.
Chinese Lending to Africa is Way More Complicated Than You Think
It's widely believed that Chinese lending to African countries is predominantly done by a few state policy banks, such as the China Exim Bank and the China Development Bank. While that was true in the past, today the situation is far ...
China Champions ‘Small and Beautiful’ Projects in Africa, Rejects Debt Talks at COP29
As global leaders gather for COP29, China has made clear its opposition to introducing debt discussions into the climate agenda while also showcasing the successes of its small and beautiful projects in African countries. In “China's Policies and Actions ...
Update on the State of the BRI in the New “Small and Beautiful” Era
There's been a lot of talk in recent years about the new "small and beautiful" doctrine that now guides China's Belt and Road Initiative. The problem is that a lot of people still do not understand what it actually means in ...
Development Finance at a Crossroads: BRICS Challenge to Western-led Economic Order
We're going to see two starkly contrasting visions of the current international economic order this week when leaders from nearly two dozen developing countries gather in Russia for a BRICS summit while the development finance elite meet in Washington for the IMF-World Bank's annual meeting.
Beyond Railways and Ports: China’s Evolving Lending Strategy in Africa
Chinese lending to African countries rebounded in a big way in 2023 after seven consecutive years of decline. Last year, Chinese lenders approved loans totaling $4.61 billion to African borrowers, a dramatic increase over the $922 million lent in 2022, according ...