Tag: G20
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Week in Review: Sudan Coup, Glasgow Climate Summit & G20 Debt Relief
This week Eric & Cobus discuss the Chinese response to the military coup in Sudan and how it differs from Beijing's reaction to September's coup in Guinea. Plus, Cobus explains why he's not optimistic about the outcomes for developing countries from ...
Low-Income Country Debt Now Closing In on a Trillion Dollars, Activists Blame G20 States For Ignoring the Problem
Borrowing among the world's poorest countries jumped 12% last year pushing up the total amount owed to a record $860 billion, according to a new report released on Tuesday by the World Bank. Not surprisingly, World Bank economists ...
China Signals Its Approval of Ethiopian Debt Restructuring Talks
Beijing gave its blessing on Wednesday to the new creditors committee that China's co-chairing with France to overhaul Ethiopia's $30 billion debt. The committee, operating under the auspices of the G20, met for the first time on September 16th and plans ...
G20 Reps Close Another Meeting Without Any Firm Commitments on Vaccines or Debt Relief For World’s Poorest Countries
In what's becoming a predictable routine, high-level representatives from the world's wealthiest countries get together, express anguish over the rapid spread of COVID-19 in developing countries, issue a call for more equitable distribution of vaccines and then restate longstanding positions that bilateral creditors (read China) and bondholders ...
China Pushes Back Against U.S. Criticism That It’s Not Doing Enough to Support the G20’s Debt Relief Initiative
The Chinese government is becoming increasingly impatient with the persistent U.S. criticism that it isn't doing enough to support the G20's Debt Service Suspension Initiative (DSSI). U.S. officials have steadily increased their critiques in July in the run-up to the G20 finance ministers meeting in Italy that ...
White House Official Blames China for the Failures of the G20’s DSSI
The White House's point person on G7 and G20 affairs, Daleep Singh, singled out China for the failures of the G20's Debt Service Suspension Initiative (DSSI). "The DSSI and the Common Framework is not impactful enough right now," said Singh during an online discussion ...
With an Eye on China, Japanese Foreign Minister Promises More Vaccines and Infrastructure Development in Africa
The Japanese government will play a more prominent role in delivering badly-needed aid and infrastructure, according to Foreign Minister Motegi Toshimitsu (photo). Motegi addressed the issue on Tuesday following a lunch with fellow G20 foreign ministers in Italy. He added that Tokyo ...
In a Contentious G20 Meeting, Foreign Ministers Exchange Jabs About Jabs
Most of the foreign and development ministers from the Group of 20 gathered in Matera, Italy on Tuesday for the organization's first in-person meeting since 2019. China and Russia, however, were among the few who were noticeably absent from the forum. ...
G20 Suspends Debt Repayments For Another Six Months
The G20 is providing developing countries with yet more breathing room to repay their debts. G20 finance ministers and central bank chiefs met yesterday and announced that it would extend the Debt Service Suspension Initiative by another six months from June through December.
CARI: Chinese Lenders Have Provided $7.6 Billion in Debt Relief Since Last Year, Mostly to Africa
Angola is the primary beneficiary of Chinese debt restructuring activities over the past year, accounting for $6.2 billion out of $7.6 billion of total relief provided by Beijing to developing countries in 2020-2021, according to official data compiled by the China-Africa Research Initiative at ...
Update on the Chinese Debt Situation in Africa
Chinese debt relief talks are underway in a number of African countries including Angola, Zambia, Kenya, and Ethiopia among others but you wouldn't really know it. Officials on all sides aren't saying much and there's relatively little press coverage on the ...
With Major Repayments to China Coming Due, Kenya’s Debt Servicing Costs Gobble Up More of the National Budget
Beginning in July, Kenya's debt repayment will cross the psychologically important barrier of 1 trillion shillings ($9.15 billion), according to the National Treasury, prompting renewed concerns over the country's ability to sustain a debt portfolio that has doubled in size since 2017.