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WEEK IN REVIEW: Ethiopia Debt Update | China @COP28 | Chinese Energy Projects in Africa
Ethiopia is the latest African country that is now teetering on the verge of default after the government announced this week that it would not be able to make a $33 million bond payment. Eric speaks with Mark Bohlund, a senior ...
Who Will Come to the Rescue? The Inadequacies of the Global Financial Safety Net and Its Impact on Developing Countries
By Marina Zucker-Marques and William N. Kring In an era marked by ‘higher-for-longer’ interest rates and restricted access to international financial markets, access to emergency liquidity financing is essential for emerging markets and developing economies (EMDEs) to weather economic ...
A Primer on China’s Role in the Worsening Zambian Debt Crisis
Zambia's debt restructuring deal that was hailed earlier this year as a "landmark" breakthrough for developing countries is now in shambles. Talks broke down a couple of weeks ago when bilateral creditors led by China and France objected to the terms ...
WEEK IN REVIEW: Zambia Debt | Lula’s China Diss | China-Africa Journalism
Zambia suffered a major setback this week in its nearly three-year odyssey to restructure $32 billion of debt when the country's bilateral creditors led by China and France pushed back against bondholders. Plus, Brazilian President Luiz Inácio Lula da Silva issued ...
What the Past Tells Us About the Future of the BRI
There's a widely-held perception in many parts of the U.S., Europe, and India that debt and geopolitics have led to the demise of China's Belt and Road Initiative (BRI). But a landmark new study from AidData proves otherwise, revealing not only ...
China’s Belt & Road Checks May Get Smaller, But Indonesia Can Still Get Plenty
After complaints surrounding debt and environmental woes, China’s Belt and Road Initiative (BRI) is finally changing. At the Belt and Road Forum this week, China announced that the BRI will now be “Small but Smart”, aiming to fund smaller-sized projects that are greener. ...
World Leaders Descend on Beijing Before Tuesday’s Belt and Road Forum Kickoff
Top officials from around the world are arriving in Beijing this week for the third Belt and Road forum, which comes as China celebrates the 10th anniversary of the signature infrastructure initiative. Some 130 representatives are expected to attend. The gathering ...
Chinese Loans Had Clear Development Impact in Africa: Report
The adjustment of Chinese lending to Africa and other parts of the Global South in line with changing economic conditions at home will open space for other countries, said IMF Managing Director Kristalina Georgieva. Speaking at a
Poor Countries Seek Bilateral Debt-Relief Efforts After Rebuf From IMF and World Bank
The International Monetary Fund's director dismissed calls debt cancellation from Ghana, Nigeria and other countries on the continent, saying it would adversely impact domestic creditors. (INVESTING) ETHIOPIA: After receiving debt relief from China, Ethiopia is reviving ...
An Empirical Perspective on Ten Years of China’s Belt and Road Initiative
By Kevin P. Gallagher China’s Belt Road Initiative (BRI) – the ambitious and loosely defined program of overseas investment, economic integration, and South-South Cooperation – turns ten this month. A plethora of stories have abounded since the onset of the ...
IMF Caught Unawares by China’s Sri Lankan Debt Deal
The Chinese Foreign Ministry’s brief announcement on Tuesday that China Exim Bank reached a debt deal with Sri Lanka surprised IMF officials - another indication of how fractured the bankrupt country’s debt restructuring process has become. Peter Breuer, the IMF’s Mission ...
Backgrounder: IMF Quota Discussions in Marrakesh Point to Tectonic Change
This week’s IMF and World Bank meetings in Morocco will discuss fundamental changes to the global financial architecture, including who gets to make decisions in the World Bank and the International Monetary Fund. IMF officials ...