Tag: G20 Common Framework

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Ethiopian Bonds Spike As It Awaits Official Default

Ethiopia’s bond price jumped to their highest level since January on the news that the government will not make a $33 million interest payment due on 11 December. Ethiopia has a 14-day grace period to come up with the money, after which 

Zambia’s Landmark Debt Deal Highlights China’s Success in Setting New Rules for Development Finance

Zambian President Haikinde Hichilema looked visibly relieved following Friday's announcement that the country's creditor committee had finally reached an agreement to restructure $6.3 billion of bilateral external debt. The deal that took more than two years to finalize was unveiled by ...

The Real Drivers and Impacts of Chinese Overseas Lending and Development Finance

By Oyintarelado Moses Debates about the drivers and impacts of Chinese overseas lending and development finance (OLDF) have accompanied the rise of China as the world’s largest official bilateral lender.  Amidst stalled debt negotiations under the ...

Fitch Ratings Dismisses China’s Calls for Multilateral Development Banks to Take Losses on Loans to Poor Countries

One of the world's most important credit ratings agencies, Fitch Ratings, warned investors that China's demands for multilateral creditors to take losses on their loans to developing countries would undermine their all-important credit rating, but added there's not much to worry about since Beijing remains isolated on ...

History’s Solution to the China-U.S. Debt Standoff

By Kevin P. Gallagher History is repeating itself, but Western leaders are experiencing a selective memory loss that is preventing learning the lessons of that history.  If developing countries are to mobilize the necessary resources ...

Analysis from Cobus van Staden

The Pain of Un-Polarity

“THE G2 WILL BE CONVENING SHORTLY!”
This post by U.S. President Donald Trump in the run-up to his meeting with Chinese President Xi Jinping last week may end up leaving a more lasting mark than the actual summit he attended.

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After Zambia’s Successful Debt Restructuring, Sri Lankans Hope China Will Also Take the Lead to Help Resolve Their Crisis

Now that Zambia's Creditor Committee reached a landmark debt restructuring deal with its bilateral lenders, there's new optimism that the same will happen in Sri Lanka. The South Asian island state is ...

In the Pandemic Era, China is No Substitute for the IMF on Debt Restructuring

By James Sundquist In the wake of the COVID-19 pandemic, 90 countries have approached the International Monetary Fund (IMF) for some form of economic assistance. As in decades past, a multitude of developing countries appears to need debt relief or restructuring. Yet, while ...