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WEEK IN REVIEW: Zambia Debt | Lula’s China Diss | China-Africa Journalism
Zambia suffered a major setback this week in its nearly three-year odyssey to restructure $32 billion of debt when the country's bilateral creditors led by China and France pushed back against bondholders. Plus, Brazilian President Luiz Inácio Lula da Silva issued ...
What the Past Tells Us About the Future of the BRI
There's a widely-held perception in many parts of the U.S., Europe, and India that debt and geopolitics have led to the demise of China's Belt and Road Initiative (BRI). But a landmark new study from AidData proves otherwise, revealing not only ...
Kenya Wildly Overpaid for Chinese-Built Railway: Politician
As increased debt payments eat into Kenya’s budget, the business executive and 2022 presidential contender Jimi Wanjigi alleges that the country overpaid by more than 100% for the Standard Gauge Railway. The controversial project, built by China Road and Bridge Corporation, has ...
Biden Renews Debt Trap Allegation Against China Even Though the Charge Has Been Widely Debunked
U.S. President Joe Biden resurfaced the widely discredited debt trap accusation against China as part of a larger effort to differentiate Washington's economic engagement strategy in the Western Hemisphere from that of Beijing's. The president made the claim on Friday during his ...
All it Takes is a Simple Google Search to Confirm the China Debt Trap Meme Isn’t Real
President Joe Biden's latest reference to Chinese "debt traps" is part of a broader pattern among high-level U.S. legislative, government and military officials to level the charge against China's lending practices. It's odd that they continue to make the claim since it's been ...
Why the Repeated Claims of Chinese Debt Trap Diplomacy is So Damaging to U.S. Foreign Policy
U.S. President Joe Biden’s comment to leaders from the Americas that: “I want to make sure that our closest neighbors know they have a real choice between debt-trap diplomacy and high-quality transparent approaches to infrastructure and to development,” was only a passing moment.
IMF Warns China’s Slowdown Could Hit Africa, Debunks Debt Trap Myth
The International Monetary Fund released a set of reports on Africa’s economic outlook and China’s shifting role on the continent. Overall, African economies are slowly rebounding after the double shocks of the pandemic and the Ukraine crisis. However, the IMF warns this recovery is endangered by constrained lending ...
African, Chinese Exim Banks Sign $600 Million Trade Deal
China Exim Bank has signed a $600 million deal with the African Export-Import Bank to boost trade and economic cooperation between Afreximbank member states and China. At present, it is unclear which specific sectors will be targeted via the deal, which was signed ...
Africa’s Strong Presence at China’s Belt & Road Forum
Five of the 24 heads of state who attended this week's Belt and Road Forum in Beijing were from African countries, highlighting the prominent role the continent played at the event. Many of the themes ...
Ethiopian Prime Minister Meets China’s Premier
Ethiopian Prime Minister Abiy Ahmed held talks with Chinese Premier Li Qiang in Beijing on Monday. The PM is on an official visit to China and will attend the Belt and Road Forum. In the Xinhua
Kenyan President’s Economic Diplomacy Agenda Will be Tested in Beijing This Week
Among the dozens of leaders attending this week's Belt and Road Forum in Beijing, few are under as much pressure to deliver tangible results from the event as Kenyan President William Ruto. Back home, the Kenyan economy is in serious trouble
World Leaders Descend on Beijing Before Tuesday’s Belt and Road Forum Kickoff
Top officials from around the world are arriving in Beijing this week for the third Belt and Road forum, which comes as China celebrates the 10th anniversary of the signature infrastructure initiative. Some 130 representatives are expected to attend. The gathering ...