Tag: debt
Related Posts
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 ...
Maldives’ Pro-China Leader in India to Repair Frail Ties
Maldives President Mohamed Muizzu was given a red carpet welcome on his first state visit to India on Monday. The trip aimed at repairing frail ties between the South Asian neighbors. Pro-China Muizzu came to power a year ago on a ...
Sri Lanka Approves Controversial Foreign Debt Deal
Sri Lanka's new government has approved a controversial restructure of $14.7 billion in foreign commercial credit tentatively agreed by its predecessor, the finance ministry said Saturday. Former leader Ranil Wickremesinghe announced a deal with international sovereign bondholders and the China Development ...
Pulling China In: The Political Goals and Project Needs Behind Latin America’s Loans From China
By Zara C. Albright Since Latin American countries began borrowing from China’s development finance institutions (DFIs) nearly two decades ago, loans from the China Development Bank (CDB) and the Export-Import Bank of China (CHEXIM) have played a significant role in ...
Xi Says Wants to Deepen BRI Cooperation With Sri Lanka Under New Leader
Chinese President Xi Jinping on Monday said he hoped to broaden cooperation with Sri Lanka under his Belt and Road Infrastructure Initiative (BRI) as he congratulated the island nation's new leader, Anura Kumara Dissanayaka. Dissanayaka, a self-avowed Marxist, took his oath ...
Construction to Begin Next Year on Massive Chinese-Financed Hydroelectric Dam in Congo-Brazzaville
Congo-Brazzaville will begin the construction of a major new hydroelectric dam in January 2025, the government said Wednesday. "The government, through the Ministry of Energy and Hydraulics, has signed a memorandum of understanding with China Overseas Co Ltd for the development ...
Cash-Strapped Sri Lanka Eyes China Development
By Amal Yayasinghe Sri Lanka's economic collapse was partly blamed on struggling high-debt Chinese mega-projects, but candidates in Saturday's presidential election are banking on at least one of them to buck the trend. The strategically ...
African Leaders in Beijing Eyeing Big Loans and Investment
By Oliver Hotham African leaders will arrive in China's capital this week, seeking funds for big-ticket infrastructure projects as they face mounting great power competition over resources and influence on the continent. China has expanded ...
David Monyae on the Politics of FOCAC
Final preparations are underway for the upcoming Forum on China-Africa Cooperation summit, which begins on September 4th in Beijing. This year's event comes at a particularly fraught time amid wars in Europe, the Middle East and the simmering Great Power rivalry ...
Report: Chinese Lending to African Countries Rebounded in 2023
Chinese creditors resumed lending to African countries in 2023, ending seven years of consecutive declines, according to new data from Boston University's Global Development Policy Center. Chinese lenders issued 13 loans to borrowers in eight African countries and two regional financial ...
Everything You Need To Know About FOCAC 2024
With the ninth Forum on China-Africa Cooperation (FOCAC) now concluded, key themes and outcomes from the meeting have come into focus. While China and Africa remain aligned on many critical issues, the balance between their converging and diverging interests shaped the results of FOCAC 2024 in ...
Learning Through Lending: China-Africa Economic Engagement through FOCACs Past and Present
By Lucas Engel As the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) approaches, it is warranted to look back at the trajectory of China-African economic engagement and assess its current state. For China, FOCAC, ...