Tag: debt
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Ed Cropley: China is Caught in a Zambia Debt Trap
Contrary to widespread perception, Zambia is not ensnared in any kind of Chinese debt trap, argues Reuters Breakingviews columnist Ed Cropley in a recent op-ed video published on the news agency's YouTube channel. Quite the opposite, in fact. If anyone's caught ...
Lots of Confusion Over Nigeria’s Debt Profile
Washington, D.C.-based Eurasia Group Africa Practice Director Amaka Anku sought to clarify a key point of confusion that emerged last week, when the Nigerian Ministry of Finance released a report stating that the country's debt servicing costs was equivalent to all of the revenue generated by the ...
Debt Trap? What Debt Trap? Nigeria Doesn’t Borrow Anywhere Near Enough From China to be Caught in a Trap Says Government
Amid all of the talk of Chinese debt traps and moves by Nigerian legislators to review the past 20 years of loan contracts with China, the country's Debt Management Office (DMO) in Abuja wants to clarify a few things. The DMO on Friday published a short statement ...
The Chinese Approach to Debt Relief is Very Different Than That of Legacy Donors. A New Report Explains Why.
A trio of researchers at the China-Africa Research Initiative at Johns Hopkins University in Washington, D.C. has published a new working paper that provides some badly-need context about yesterday's announcement by Chinese President Xi Jinping to cancel a small segment of Beijing's loan ...
Xi Jinping Bolsters China’s COVID-19 Diplomacy in Africa With Virtual Leaders Summit
Xi Jinping delivered the keynote address at a hastily arranged virtual African leaders summit on Wednesday where the Chinese president reaffirmed Beijing's commitment to provide financial and material support to combat the pandemic. There was very little new information contained in ...
New Analysis: Africa Doesn’t Have a Debt Problem, Certain African Countries Do
A new report by the Beijing-based consultancy Development Reimagined provides some badly-needed context for the broader discussion about the burgeoning debt crisis in certain African countries. The analysis focused on whether African countries will have sufficient funds available to provide ...
While the Federal Government Moves to Borrow More Money From China, Nigeria’s House of Representatives Sounds the Alarm
While Nigerian President Muhammadu Buhari and his cabinet appear increasingly determined to borrow more from China to fund infrastructure projects, even amid the current economic crisis, critics in the House of Representatives are expressing alarm over the lack transparency in the Chinese loans.
Bloomberg’s Alonso Soto: “The Ticking Debt Bomb in Africa Threatens a Global Explosion”
Bloomberg's Nigeria correspondent Alonso Soto is covering the burgeoning debt crisis in Africa more closely than any other international journalist, filing 2-3 stories a week on the topic. Until now, his reporting on the issue has been quite measured, with straightforward stories on the progress of various ...
Kenya’s Parliament Warned That Unpaid Debts to China Threaten Standard Gauge Railway Service
Kenya Railways is falling behind in its debt service payments for one of the country's new Chinese-built and financed Standard Gauge Railway lines, according to a new budget report submitted to the Kenyan parliament on Wednesday. In its fiscal year 2020-2021 ...
A Lot of People Mistakenly Think China Suspended Bilateral Debt Repayments in Africa. They Didn’t.
China's recently published COVID-19 white paper was intended to clear up confusion about Beijing's efforts to contain the outbreak and what it's doing to support other countries, including economic assistance. And it's on the issue of debt relief, in ...
No Quick Fix Ahead For Chinese Debt Relief in Africa Warns Brookings Scholar Yun Sun
It's been a challenge to follow the progress of China's debt relief negotiations in Africa, since neither side seems willing to reveal much about the ongoing talks. But several months into the current economic crisis, it's becoming increasingly evident the quick fix across-the-board package that so many ...
Africa’s Private Debt: What to do About Those Vulture Funds Circling Overhead?
It's been almost three months since Ethiopian Prime Minister Abiy Ahmed issued one of the first calls for emergency debt relief for Africa. Back in March, when the prime minister posted his appeal to the G20 on Twitter, COVID-19 had ...