Tag: loans
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African Governments Need to Prepare For a New Era of Chinese Lending That Will be Smaller and More Targeted, Says Analyst
The recent pullback in Chinese lending for African infrastructure development makes sense, given debt sustainability problems in more than a third of the countries across the continent, explained Damilola Akinbami, the Lagos-based head of research at Financial Derivatives Company in an interview on the ...
It’s Difficult to Overstate Just How Much the “Debt Trap” Accusation Irks Chinese Officials
Wu Peng, China's top diplomat for sub-Saharan Africa, on Wednesday posted a tweet that featured a week-old video of Nigerian President Muhammadu Buhari defending his decision to borrow from China. Wu didn't include any other reference in ...
China’s African Debt Experiment
The Financial Times today published a deep dive into the issue of Chinese lending to African countries and what struck me was how it crystallizes some of the underlying issues that aren’t necessarily made clear in the debt debate. ...
Financial Times Explores the Current State of Chinese Lending in Africa
Last year's controversy surrounding the fate of the Entebbe International Airport in Uganda and the (incorrect) allegation that it risks being seized by Chinese creditors is the subject of a new in-depth report by two prominent Financial Times journalists, Africa Editor David Pilling and ...
Fact-Checking a Kenyan MP’s Assertions About the Risks of Borrowing From China
Kenya's former majority speaker and current MP from the northeastern city of Garissa, Aden Duale, is not a big fan of China...to say the least. He took to Twitter during Chinese Foreign Minister Wang Yi's visit last week to tell his 650,000 followers how Africa's ...
Following Its Rather Dismal Coverage of FOCAC, the BBC Goes Back to Basics For Wang’s Africa Tour
The BBC used the occasion of Chinese Foreign Minister Wang Yi's three-nation African tour last week to reset its coverage of China-Africa relations. This follows a dismal performance during last December's FOCAC conference, when it sparked international criticism for poorly editing the comments of ...
This Will Likely be the Last Time Wang and Kenyatta Meet in Their Current Roles, Ending a 9-Year Professional Relationship
Thursday's meeting between Kenyan President Uhuru Kenyatta and visiting Chinese Foreign Minister Wang Yi at the State House in Mombasa will likely be their last in their current roles, bringing to a close a professional relationship that dates back to at least 2013 when they both ascended ...
China’s Share of Kenya’s Total Debt Shrinks as Borrowing Surges
Kenya's Parliamentary Budget Office (PBO) is forecasting the country's total public debt will reach $78 billion this June and $86 billion by the same time in 2023. Meantime, China's share of the country's debts, estimated at around $6.5 billion, ...
China’s Has Huge Ambitions for International Railway Development, Just Not So Much in Africa Anymore
It used to be that, when a Chinese Foreign Minister made the annual first overseas trip of the year to Africa, as Wang Yi is about to this week, financing railway development would be a top talking point at every stop. ...
East Africa’s New Year’s Resolution: Borrow More Money
Kenya, Tanzania, and Uganda are starting 2022 with an eye on borrowing hundreds of millions of dollars to fund new infrastructure development and to help close the finance gap created by the ongoing COVID-19 pandemic. The Kenyan ...
Two Leading International Development Finance Heads Single Out China For the Ballooning Debt Crisis in the Global South
Two of the world's most prominent development finance leaders, Emmanuel Moulin (left), chair of the Paris Club, and World Bank President David Malpass (right), separately named China as one of the key factors in the worsening debt crisis among developing countries.
Nigeria’s Debt Crossed the $90 Billion Threshold… But Not Because of Chinese Loans
Nigeria's total debt, both external and domestic, edged up by 4% to $92.6 billion as of the end of September according to the latest data from the Debt Management Office (DMO). The DMO said the increase was due largely ...