Yesterday marked the first major development we’ve seen on the debt story in Africa in quite some time. The fact that Angola was the beneficiary was significant, given its outsized position in China’s loan portfolio on the continent.
Angola alone makes up almost a third of Chinese debt stock in Africa, according to Johns Hopkins Professor Deborah Brautigam, and accounted for 41% of all the African debt service that was paid to official Chinese creditors in 2020.
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