Tag: debt
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Pompeo’s Critiques of the Chinese in Africa Sparks Pointed Response From Beijing
Secretary Pompeo's comments on Africa were just one of several U.S. critiques that dominated much of Chinese foreign ministry spokesman Zhao Lijian's regular press briefing on Friday. After responding to the Secretary's announcement that Washington would impose targeted sanctions against Chinese officials linked to ...
Kenya-China Debt Relief Talks Stall
Critical debt restructuring talks between China and Kenya have stalled over Nairobi's sudden decision to participate in the G20's debt service suspension initiative (DSSI) after all. Previously, the Kenyan government said it would not participate in the G20 program because it is too restrictive and prevents the ...
ICYMI: Video Now Available of CARI’s Latest Webinar “Risky Business: New Data on Chinese Loans and Africa’s Debt Problem”
In case you missed last week's webinar hosted by CARI Director Deborah Brautigam and Kevin Gallagher, director of Boston University's Global Policy Development Center, where they introduced the new interactive loan database and discussed the latest World Bank data about Africa's burgeoning debt crisis, ...
Kenya’s Embattled Standard Gauge Railway Reopens After COVID-19 Lockdown and Now Has to Earn a Lot of Money Fast to Repay Chinese Loans
Kenya's ailing Standard Gauge Railway (SGR) announced plans to resume passenger service between Nairobi and Mombasa now that President Uhuru Kenyatta lifted the partial lockdown in the capitol. During the lockdown, brought on by the COVID-19 outbreak, the SGR only carried cargo on its various ...
The Impact of the COVID-19 Pandemic on Infrastructure Development in Africa
By Emmanuel Amoah-Darkwah and Ricardo Reboredo Africa has not been spared from the economic crisis triggered by the COVID-19 pandemic. The International Monetary Fund (IMF) is projecting -3.2% GDP growth in Sub-Saharan Africa, while the World Bank also projects GDP growth ...
See What Happens When You Start to Talk Openly and Honestly About Chinese Debt?
Last week the Nigerian Debt Management Office (DMO) published a refreshingly simple and transparent summary of the country's borrowing from China that included detailed information on how much the country owes, the terms and what the money's being used for. This is not something we've ...
“At Long Last, We Now Know How Much Poor Country Governments Owe China”
The team at the China-Africa Research Initiative at Johns Hopkins University in Washington, D.C, has been poring through the treasure trove of information contained in the World Bank's newly released International Debt Statistics database. "For decades, researchers have ...
Africa Practice: Africa is Not Facing a Debt Crisis but Some African Countries Certainly Are
The London-based consultancy Africa Practice published a new infographic on Twitter that highlights the wide disparities between different countries' debt-to-GDP ratio across the continent.
South Africa FM: Debt is the Hippo Eating the Next Generation’s Inheritance
South African Finance Minister Tito Mboweni issued a dire warning to the parliament on Wednesday about the country's debt crisis. With South Africa's debt-to-GDP levels breaking new records this year and forecast to grow to 82% in the next few months, Minister Mboweni compared the debt ...
World Bank President Says He’s Confident China, Private Creditors Will Deliver Debt Relief
World Bank President David Malpass (photo) told Bloomberg that he's confident private creditors will somehow come up with a way to restructure the $140+ billion of bond debt that poor countries owe investors. “The view of the international community was very ...
Vera Songwe on Chinese Debt Relief for Africa: “There’s Still a Lot to be Done”
Executive Secretary of the United Nations Economic Commission for Africa, Vera Songwe, joined Masood Ahmed, president of the Washington, D.C.-based think tank Center for Global Development, in an online discussion last week where she provided an update on the status of the ongoing debt relief ...
Amid Rising Fears Over Debt, Government Tries to Reassure Public That China Will Not Seize Assets
This year's dramatic fall in oil prices combined with the federal government's move to take on billions of dollars in new loans in the midst of an ongoing economic crisis is prompting widespread anxiety in Nigeria. Those concerns were further amplified this week when the country's Debt ...