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Analysts Weigh What Role China Should Play in the Biden Administration’s Africa Policy

With 43 days to go before Joe Biden assumes power in Washington, D.C., analysts in the U.S. are weighing in with suggested foreign policy priorities for the incoming administration. Some are proposing bold moves like the U.S. coordinating with China on ...

Kenya’s President Doesn’t Want to Hear Any Lectures From U.S., EU-Led Donors As Country Restructures Its Debt

President Uhuru Kenyatta warned international development agencies, and the U.S. and Europe on Friday against using Kenya's current debt crisis as a pretext to lecture the country and interfere in its affairs. "Please, I ask you to refrain from interfering, telling ...

Cyril Ramaphosa Renews Calls For Urgent Debt Relief for Africa. But is Anyone Listening?

South African President and Chair of the African Union Cyril Ramaphosa issued yet another urgent appeal for the international community to provide immediate debt relief for Africa. "Urgent and collective action is needed there to stave off that crisis and to maintain the invaluable social gains that ...

How Long Can African Leaders Keep Repeating Themselves on Debt?

This week saw yet another African leader (this time my own president, Cyril Ramaphosa,) calling for international measures to soften the current debt crisis confronting poor countries in Africa and beyond. None of these measures are outrageous. Considering that seven out of the top 10 fastest-growing economies ...

Analysts: China to Cut Back Lending to Africa in the Post-COVID-19-Era

Chinese infrastructure lending to African countries is widely expected to slow over the next 1-2 years amid mounting debt sustainability concerns, according to analysts interviewed by the South China Morning Post. This would mark a dramatic change over the past twenty years when Beijing emerged ...

China’s Curtailment of Loans to Developing Countries Was Expected, Says Economist Michael Pettis

Michael Pettis is one of the world's foremost China economists. He shared a few insights this weekend on the current trend of reduced Chinese lending to developing countries. In a three-part thread published on Twitter, the Peking University professor said Beijing's ...

Forget About Repayment Holidays, Kenya Wants Its Creditors (Ahem… China) To Cancel Some of Its Debts

The Kenyan Treasury is reportedly considering a new plan to approach its creditors to ask for outright cancellation of some of its debt, according to a report in Business Daily. Although a final decision has yet to be made, the Treasury is apparently considering ...

Kenya Treasury Secretary: “We Don’t Want to Give the Impression We Are Straining in Any Way”

The alarming headlines in today's Kenyan newspapers about the country's apparent inability to repay some of its debts contrasts sharply with the message conveyed by Cabinet Secretary for National Treasury Ukur Yatani in an interview with Bloomberg's Africa bureau chief David Malingha:

The Challenge of Responding to the Zambian Crisis

Zambia’s slow creep towards an official default is raising a lot of discussion about how to avoid this kind of crisis from spreading. Not surprisingly, much of this focus is falling on China, and rightly so. China’s insistence on handling successive troubled loans on an opaque case-by-case ...

As Zambia Nears Default, Analysts Examine What Went Wrong

Although Zambia missed a $42.5 million bond payment on November 14th, and effectively defaulted on that portion of its debt, it's still technically not in default yet. It will probably officially cross that line within the next few days, making it the first African country this year ...
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