Tag: Zambia debt
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The Implosion of Zambia’s Debt Deal Signals Wider Worries
Delays in restructuring Zambian debt are weighing on the country’s economy and raise wider questions about the future of debt relief mechanisms around the world. Zambia appears stuck since the announcement last Monday that its committee of official creditors rejected a deal between ...
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Forget About Everything Else, Hichilema’s in China to Resolve Zambia’s Still Unfinished Debt Restructuring Deal
Zambian President Haikinde Hichilema is spending much of this week visiting Chinese business hubs in Shenzhen and Shanghai, but the real focus of this trip will be dealt with later in Beijing, where he will tackle the sensitive issue of debt. ...
Chinese Media Noticeably Quiet on Zambian Debt Deal
Most major financial news outlets in the U.S. and Europe featured prominent coverage of Friday's landmark Zambian debt restructuring deal but the story was barely mentioned in China. The official state-run Xinhua news agency published a short summary of the announcement but, ...
WEEK IN REVIEW: The G77 Bloc of Countries Together With China To Propose a New “Loss and Damage” Fund at the COP27 Summit
The G77 bloc of countries together with China is reportedly going to propose a new "loss and damage" fund at the COP27 summit to provide finance to poor countries impacted by climate disasters. The fund appears to be a repackaged version of the failed "climate adaptation fund" that wealthy ...
What is China’s Real Role in Sri Lanka’s Debt Crisis?
Few debt crises have triggered as much disinformation as Sri Lanka’s. The country is currently grappling with a complex debt restructuring process amid its worst economic crisis since independence. The role of Chinese debt has drawn much attention and many false narratives - not least the allegation that Hambantota Port was ...
Indonesia’s plans to develop its rare earth resources face a geopolitical dilemma because the fastest way to process them relies on China’s dominant technology and supply chains, even as the United States and its allies are urging Jakarta to reduce dependence on Beijing. Photo by AFRIADI HIKMAL / NURPHOTO / NURPHOTO VIA AFP
Indonesia sits on a geological treasure trove of rare earth minerals, and the government is eager to tap into the wealth they could bring. While it knows how to find, mine, and sell the highly sought-after critical materials, it confronts a geopolitical dilemma: The only ...
The Implosion of Zambia’s Debt Deal Signals Wider Worries
Delays in restructuring Zambian debt are weighing on the country’s economy and raise wider questions about the future of debt relief mechanisms around the world. Zambia appears stuck since the announcement last Monday that its committee of official creditors rejected a deal between ...
Forget About Everything Else, Hichilema’s in China to Resolve Zambia’s Still Unfinished Debt Restructuring Deal
Zambian President Haikinde Hichilema is spending much of this week visiting Chinese business hubs in Shenzhen and Shanghai, but the real focus of this trip will be dealt with later in Beijing, where he will tackle the sensitive issue of debt. ...
Chinese Media Noticeably Quiet on Zambian Debt Deal
Most major financial news outlets in the U.S. and Europe featured prominent coverage of Friday's landmark Zambian debt restructuring deal but the story was barely mentioned in China. The official state-run Xinhua news agency published a short summary of the announcement but, ...
WEEK IN REVIEW: The G77 Bloc of Countries Together With China To Propose a New “Loss and Damage” Fund at the COP27 Summit
The G77 bloc of countries together with China is reportedly going to propose a new "loss and damage" fund at the COP27 summit to provide finance to poor countries impacted by climate disasters. The fund appears to be a repackaged version of the failed "climate adaptation fund" that wealthy ...
What is China’s Real Role in Sri Lanka’s Debt Crisis?
Few debt crises have triggered as much disinformation as Sri Lanka’s. The country is currently grappling with a complex debt restructuring process amid its worst economic crisis since independence. The role of Chinese debt has drawn much attention and many false narratives - not least the allegation that Hambantota Port was ...
Why Did Chinese Lending to Zambia Go So Wrong? Zambia-China Expert Counts the Ways
Ching Kwan (CK) Lee is one of the most influential thinkers on Africa-China relations working today. While she’s mostly known in academic circles, her analysis has reshaped thinking about the nature of China’s global influence, especially in Africa. A professor of ...
Chinese Miner Sinomine Announces Pivot Away from Zambia, Citing Debt Crisis
The Chinese mineral exploration and mining company Sinomine (aka China Mining Resources Group) announced on Tuesday that it’s withdrawing from a mining and construction contract with the Zambian government because of Zambia’s debt crisis and the ongoing COVID-19 pandemic. The company released ...
Sri Lanka’s Debt Nightmare Kicks Off Familiar Narratives Abroad
"We have lost the ability to repay foreign debt." This was the message from Sri Lanka’s newly appointed Central Bank Governor Nandalal Weerasinghe to journalists on Tuesday. The announcement could signal a wave of defaults across the Global South and makes Sri Lanka the newest front in a war ...