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Cash-Strapped Sri Lanka Set to Sign Key Debt Deals With China and Other Lenders
Sri Lanka has finalized long-delayed debt deals with its bilateral lenders, including China, to meet a key condition of an IMF bailout, the government said Tuesday. A treasury delegation is on its way to France to sign agreements with creditors on ...
IMF Releases Sri Lanka Loan Despite Restructure Delays
The International Monetary Fund released $336 million as part of a bailout loan installment for Sri Lanka despite delays in the crucial restructuring of its foreign debt, including to China, the Washington-based lender said Wednesday. The South Asian nation was starting ...
The Future of Chinese Development Finance in Africa
Chinese development finance in Africa today is a small fraction of what it was a decade ago when Beijing's policy banks provided billions of dollars in loans to countries across the continent. But while those ...
Why It May Be Premature to Trust Nigerian, Kenyan Media Reports on New Chinese Railway Funding
A word of caution about a flurry of headlines circulating in the Kenyan and Nigerian press this week claiming that China has committed to spending billions of dollars on new railway projects in both countries. Something just doesn't sound right about these stories. It's interesting ...
Insights From Hannah Ryder on What to Expect at This Year’s China-Africa Summit
Chinese and African governments are beginning to negotiate the agenda for the upcoming Forum on China-Africa Cooperation (FOCAC) summit that will take place in Beijing later this fall. Development finance, infrastructure, and green technology are ...
Sri Lanka Leases White Elephant Airport Built With Chinese Loans
Sri Lanka said Friday it had leased a white elephant international airport built with Chinese loans to a foreign joint venture as the island nation's bankrupt government seeks to offload loss-making assets. The small airport near a wildlife sanctuary on the ...
All Hands-on Deck Needed for Development Finance—including China
By Tim Hirschel-Burns Many people in the development finance community migrated up the United States' eastern seaboard over the weekend. Last week, the International Monetary Fund (IMF) and World Bank Group Spring Meetings took place in Washington D.C., while this week ...
Tang Xiaoyang on Why the U.S., Not China is to Blame for Africa’s Debt Problems
While many in the West still contend Africa's worsening debt crisis is largely due to excessive Chinese lending, Tsinghua University Professor Tang Xiaoyang argues that accusation just isn't true. Instead, the well-known China-Africa scholar contends ...
Putting Geopolitical Competition on Display: Sierra Leonian President Visits China
By Lucas Engel On Saturday, March 2, 2024, Julius Maada Bio, the President of Sierra Leone, returned from China, marking the end of the year’s first visit to China by an African head of state.
Africa’s Debt Dilemma: The Urgent Need for More Equitable Borrowing
For the first time in years, a few African countries are venturing back into the bond market to raise funds for infrastructure and to pay down their debts. However, borrowing more from private creditors is a risky move given the difficulties ...
China-Africa Relations in 2024: Insights From Six Experts
China's engagement in Africa is at a critical inflection point where many of the various stakeholders in this important relationship are re-evaluating what they want from the other. In this special episode, we speak with ...
The Africa-China 2023 Year in Review
2023 was a transformative year for China’s ties with Africa. Chinese investment, trade, and diplomatic engagement were either flat or declined sharply over the past year, highlighting how this once-vibrant relationship is now entering a new, more austere period.