Amid the ongoing discussions surrounding African debt restructuring and the proposed multibillion-dollar China-Iran comprehensive partnership agreement, China’s oil procurement is a through-line that binds some of these disparate issues together.
After all, Angola accounts for approximately a third of Africa’s entire bilateral debt to China. So if one strips out the oil-backed loans to Luanda, the issue of Chinese debt in Africa looks a lot more manageable (admittedly, it does vary widely depending on the country).
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