Tag: Zambia
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China’s Top Diplomat for Africa Vows to Crack Down on Offensive Videos After Meeting With Malawi FM
China's top diplomat for Sub-Saharan Africa, Wu Peng, arrived in Lilongwe on Tuesday and tried to quell surging anger in the country over revelations in a new BBC documentary that showed how Chinese nationals in Malawi exploited children to produce offensive videos. The ...
Tibor Nagy’s Disingenuous Questioning of Chinese Mining Investments in Africa
Like an inquisitor against a backdrop of anti-Chinese criticism, former U.S. Undersecretary of State for Africa Tibor Nagy posted a tweet questioning China's role in the African mining sector: https://twitter.com/TiborPNagyJr/status/1533171803719450625 ...
Xi, Hichilema Speak Amid New Allegations China’s “Rookie Status” is Slowing Zambia’s Debt Restructuring Process
Zambian President Hakainde Hichilema raised the sensitive issue of his country's burgeoning debt crisis during a phone call on Tuesday with Chinese President Xi Jinping. President Hichilema, according to a statement on his official Facebook page, ...
WEEK IN REVIEW: China will Serve as Co-Chair of Zambia’s New Creditor Committee
China, not South Africa or France, will serve as co-chair of Zambia's new creditor committee, said Finance Minister Situmbeko Musokotwane. “It does make sense for our biggest creditor to play a leading part, to take a leading role in the proceedings,” Musokotwane told Bloomberg late last week. "They are ...
Zambia Wants Debt Reduction As Part of Renegotiation: Hichilema
Zambian President Hakainde Hichilema is optimistic that Zambia’s debt renegotiation is now on track, following the recent announcement that China and France will head the creditors’ committee. The committee's first meeting will be next week. Speaking at a mining conference in Cape Town,
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 ...
Tussle Underway Among China, South Africa, and France to Co-Chair Zambia’s Creditor Committee
Sharp elbows are out among countries vying to help lead Zambia's newly-energized debt restructuring process, following China's announcement last week that it plans to join a new creditor's committee. Soon after Chinese officials announced their intent to join the committee, they indicated ...
Ed Cropley: There’s a Lot More at Stake For China in the Zambian Debt Talks Than Just Getting Repaid
While Zambia's $5.8 billion of outstanding debts to Chinese creditors is indeed a lot of money, getting fully repaid may not be the primary concern for policymakers in Beijing, said Reuters Breakingviews columnist Ed Cropley in his latest opinion video: "The ...
WEEK IN REVIEW: South African Rand Falls for Seventh Consecutive Week due to Concerns about China’s Economic Wellbeing
The South African rand fell for a seventh consecutive session due in part to investor concerns about the economic well-being of the country's largest trading partner, China. The SA currency is now at its lowest level since January, weighed down by the ongoing lockdowns that have cooled demand for ...
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 ...
Is it Possible to Keep Geopolitics Out of Development?
This week, my colleague CAP Editor in Chief Eric Olander unearthed a startling statistic: China’s trade with Africa so far this year already exceeds all trade between Africa and the United States for the whole of 2021. Think about that ...
China to Join Zambian Creditor Committee Says IMF Head Georgieva
After months of inaction, there's word now of an important breakthrough in restructuring Zambia's ballooning $32 billion debt. China, widely perceived as the lone holdout, has finally agreed to join a multi-party creditors committee, according to IMF Managing Director Kristalina Georgieva during the group's Spring Meetings that took place last ...