Tag: debt
Related Posts
Laos and the Chinese Debt Crisis in Africa
The small, impoverished landlocked Southeast Asian nation of Laos is a focal point of China's ambitious Belt and Road Initiative and also emerging a case study in how Beijing is handling a burgeoning debt crisis in the country. ...
Zambian Bondholders Expected to Reject Government’s Request for Repayment Delay
A group of Zambian bondholders is scheduled to meet on Tuesday and is widely expected to vote against the government's request for a six-month repayment holiday on $3 billion of Eurobonds. If that is in fact what happens, then it would likely prompt the government to default ...
Infographic Highlights How Nigeria Doesn’t Actually Owe China That Much Money
A new infographic circulating online showcases data from Nigeria's Debt Management Office and clearly shows the relatively small amount of debt owed to China compared to that of private creditors and multilateral lenders (as of June 2020). This runs counter ...
It’s Make or Break Time in Zambia as the Government, Bondholders, and China All Face-Off
A dramatic showdown is taking place in Zambia. Bondholders, Chinese creditors, and the government are all involved, and the fate of the country's financial stability is at stake. A crucial vote is scheduled to take place tomorrow that will likely determine if Zambia will become ...
FT Editorial: Transparency Is the Key to Solving the Zambian Debt Crisis
The Financial Times newspaper published a sharply worded editorial this weekend that called on Chinese creditors and Zambian borrowers to be more transparent in their dealings with one another in order to avoid what looks increasingly like an imminent default on some of the southern Africa's country's ...
Venezuela and the Chinese Debt Crisis in Africa
Even before the current economic crisis brought on by the COVID-19 pandemic there were widespread concerns about Chinese lending practices in Africa. The U.S. and other critics contend that Beijing is employing a predatory lending strategy where it intentionally loads up ...
China Is Now a Key Player in Zambia’s Worsening Debt Crisis
We'll know next week if Zambia is going to be the first African country this year to default on part of its debt, or if it'll get the repayment reprieve it's been asking for. It's clear that the country's financial fate now largely rests with China.
Zambia’s Debt Demand Shows Limits of China’s Checkbook Diplomacy
Zambia’s request for blanket debt-service suspension from creditors edges the country closer to default and highlights the limitations of China’s debt diplomacy. The government has decided to ask all external creditors to agree to debt service suspension on the same terms, ...
G20 Finance Ministers Expected to Approve Multi-Billion Dollar Debt Freeze Extension For the World’s Poorest Countries
Finance ministers and central bankers from China, the United States, and other G20 countries are expected to release a communiqué on Wednesday, according to Reuters, which will extend the Debt Service Suspension Initiative (DSSI) beyond the end of this year. It's not clear, though, ...
The World Bank Has a Cool New Interactive Tool Showing How Much DSSI-Eligible Countries Pay to Service Their Debts
The World Bank released a new interactive database that details how much each of the DSSI-eligible countries will pay in 2020 and 2021 to service their bilateral debts. As the world's preeminent bilateral creditor, it's not surprising that the largest boxes on the graph represent China's outsized ...
With or Without Debt Relief, Most Chinese Contractors in Africa Still Benefit
China has come under intense criticism from stakeholders in Africa, the U.S. and Europe for its refusal to enact an across-the-board debt relief plan for African borrowers. Instead, Beijing has opted to negotiate bilaterally and reach debt settlement agreements separately. Marketwatch ...
The Collectivity Question
Is unrelenting grimness more palatable if it is also instructive? Africa's current debt crisis will soon provide an answer. The continent's slide into debt distress due to the COVID-19 pandemic has been very revealing of Africa's position in the world. Despite ...