Tag: loans
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A Rare Long-form Discussion in the United States Media on China-Africa Relations
It's extremely rare in the United States for a national broadcast media outlet to feature a nuanced discussion on China-Africa relations. In most instances, as was the case last year on the Daily Show with Trevor Noah, the issue is often framed using outdated ...
The Hidden Debt Problem Extends Far Beyond China
The global discussion of the growing debt crisis in some Global South countries has been frustratingly slanted around the assumption that Chinese lending is particularly opaque. This is not to say that Chinese lending isn’t opaque – it is. In fact, some Chinese loan contracts are so ...
Hichilema Promises (Again) Not to Favor Chinese Creditors in Zambian Debt Restructuring
President Hakainde Hichilema restated his longstanding commitment to deal with all of Zambia's creditors equally in a future debt restructuring deal and vowed not to give any preferential treatment to Chinese creditors. “What we don’t intend to do is to cross-subsidize ...
Kenya’s ICT Minister is Now The Third High-Ranking Official to Defend the Government’s Refusal to Publicize SGR Contract
Kenya's Cabinet Secretary for Informations, Communications Technology Joe Mucheru spent almost an hour on Spice FM's national radio and television morning broadcast on Wednesday touting the accomplishments of President Uhuru Kenyatta's administration in promoting transparency in government. Mucheru strenuously pushed back ...
Uganda Should Borrow Less, Says President
President Yoweri Museveni wants to stop borrowing and would rather finance his government through increased trade and domestic economic activity, according to comments he made this week in an interview with Reuters. "Uganda can do much better without borrowing in my ...
Right Now, It’s the U.S. Fed, Not China That’s Making African Borrowers Very Nervous
While one U.S. foreign policy analyst after another sounds the alarm on the threats posed by Chinese debt in Africa and elsewhere, the reality is that finance policymakers across the continent are currently more anxious about what's going to happen in Washington, specifically at the ...
Kenya’s SGR Scandal Isn’t Going Away
This week saw the announcement that the United Kingdom’s international development investment arm, the CDC Group, will invest $1 billion in Kenyan infrastructure. This will include funding a new rail transit hub in Nairobi. It’s interesting that the UK is leaning into ...
Africa Check Challenges a VOA News Report on the Share of Kenya’s External Debt Owed to China
The African fact-checking service Africa Check called out the U.S. government-run news channel VOA for mischaracterizing the share of Kenya's external debt to China. In an article published on January 6th about Chinese Foreign Minister Wang Yi's visit to ...
Anzetse Were Has Something to Say to the International Media About Its Coverage of China-Africa Relations
Longtime Africa-China analyst and Nairobi-based development economist Anzetse Were is exasperated from the international media's shoddy coverage of China's engagement with Africa. "The narrative on Africa-China relations in global media has been persistently one-dimensional," she wrote in a ...
The Long Arc of Chinese Lending to Africa
The biggest headline from November’s FOCAC meeting was China’s pivot away from infrastructure funding. But like many FOCAC headlines, it needs several asterisks. In the first place, the pivot might actually be away from a particular infrastructure model (massive projects funded with large bilateral Chinese policy bank ...
Ghana Tries to Defend Itself Against Debt Critics
The Ghanaian Finance Ministry is angrily refuting recent reports by Bloomberg News reflecting the increasingly widespread perception in the global financial community that the country is now over-extended and facing debt distress. 'There are some serious factual errors in the article, ...
China and the Burgeoning Debt Crisis in Africa
With more than 20 African countries now approaching or confronting debt distress, according to the IMF, a trio of scholars at the London-based international affairs think tank Chatham House mapped out what they think needs to be done to address the situation.