Tag: loans
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Bloomberg’s Got It Wrong, Say China’s Supporters in Africa: Without Chinese Loans, the Situation Would Be Even Worse
University of Cape Town professor, Carlos Lopes, was among the first today to post a rebuttal to the Bloomberg China-Africa debt article. Professor Lopes expressed frustration that the article only focused on the negative aspects of China's lending practices on the continent and ...
Was China’s Ambassador to Somalia Correct When He Claimed That China Accounts For Just 14% of Africa’s Debt?
Yesterday, China's ambassador to Somalia, Qin Jian, posted a Tweet where he stated that "China accounts for about 14% of all foreign debts in Africa," which was a figure that we hadn't previously seen. Since the Chinese government does not provide an easily accessible resource ...
Why China-Africa Relations is Like a Geopolitical Rorschach Test
It's often said that analyzing China-Africa ties is a lot like looking at one of those inky splotches you see on a Rorschach test. If you think China's engagement in Africa is the worst thing that's happened to the continent in ...
China’s Ambassador to the UK Reiterates that Beijing Prefers to Work With Borrowers Bilaterally
In a Q&A session broadcast on Twitter, China's influential ambassador to the United Kingdom, Liu Xiaoming, admitted publicly that Beijing prefers to work with borrowers bilaterally rather than through multilateral organizations because it's "more effective."
It’s Time We Have an Honest Discussion About African Debt Relief
There's a huge disconnect between the debt relief discussion currently taking place on many webinars hosted by academics and analysts, and the reality of what's actually happening. We're now five months into this crisis and one thing is clear: bondholders, pension ...
Kenya-China Debt Relief Talks Stall
Critical debt restructuring talks between China and Kenya have stalled over Nairobi's sudden decision to participate in the G20's debt service suspension initiative (DSSI) after all. Previously, the Kenyan government said it would not participate in the G20 program because it is too restrictive and prevents the ...
ICYMI: Video Now Available of CARI’s Latest Webinar “Risky Business: New Data on Chinese Loans and Africa’s Debt Problem”
In case you missed last week's webinar hosted by CARI Director Deborah Brautigam and Kevin Gallagher, director of Boston University's Global Policy Development Center, where they introduced the new interactive loan database and discussed the latest World Bank data about Africa's burgeoning debt crisis, ...
See What Happens When You Start to Talk Openly and Honestly About Chinese Debt?
Last week the Nigerian Debt Management Office (DMO) published a refreshingly simple and transparent summary of the country's borrowing from China that included detailed information on how much the country owes, the terms and what the money's being used for. This is not something we've ...
Africa Practice: Africa is Not Facing a Debt Crisis but Some African Countries Certainly Are
The London-based consultancy Africa Practice published a new infographic on Twitter that highlights the wide disparities between different countries' debt-to-GDP ratio across the continent.
Vera Songwe on Chinese Debt Relief for Africa: “There’s Still a Lot to be Done”
Executive Secretary of the United Nations Economic Commission for Africa, Vera Songwe, joined Masood Ahmed, president of the Washington, D.C.-based think tank Center for Global Development, in an online discussion last week where she provided an update on the status of the ongoing debt relief ...
With a $1 Billion Payment Due, Kenyan MPs Call on Government to Renegotiate SGR Loan Deal with China
Kenya's National Treasury is calling on the parliament to provide it with $940 million dollars for the latest instalment to repay China for the controversial Standard Gauge Railway (SGR). The Treasury's request prompted new appeals from MPs for urgent talks with ...
Lots of Confusion Over Nigeria’s Debt Profile
Washington, D.C.-based Eurasia Group Africa Practice Director Amaka Anku sought to clarify a key point of confusion that emerged last week, when the Nigerian Ministry of Finance released a report stating that the country's debt servicing costs was equivalent to all of the revenue generated by the ...