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Death of the Chinese Debt Trap Narrative

Critics of China's lending practices in Africa and much of the developing world have gone suspiciously quiet over the past 6-7 months. A year or so ago, Kenyans were up in arms over erroneous reports that China was going to seize the Port of ...

Analysis from Cobus van Staden

Unpacking the Chinese Government’s New Development Vision

This weekend the Chinese government released a new white paper on development. It comes in unassuming guise – it’s basically a MS Word Doc with the workaday title of China’s International Development Cooperation in the New Era. But in its own way it’s eye-popping.If (like me) you have an irrational fetish for long lists of country names, this document is for you. The bulk of the white paper outlines the different kinds of ...

As Angola Gets Debt Relief From Its Creditors, Kenya Hopes For the Same From China

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 ...

Angola Gets Some Badly-Needed “Breathing Space” From China on Debt Repayments

Chinese creditors have reportedly agreed to grant Angola a three-year debt repayment moratorium, according to the West African country's finance minister Vera Daves de Sousa. Angola is by far China's largest borrower in Africa with an estimated $20 billion of outstanding loans from the ...

Why China’s Cutting Back on Overseas Lending

It's going to be much more difficult for countries in Africa and other developing regions to borrow money from China. New research from Boston University's Global Development Policy Center reveals a sharp drop in overseas lending by the ...

The Once Frenetic Debate Over Chinese Debt in Africa Has All But Disappeared

China's top diplomat for sub-Saharan Africa, Wu Peng, posted a tweet today that restated China's often-repeated position about its commitment to implement the G20's Debt Service Suspension Initiative and to help "alleviate debt pressure on African countries." It's not ...

Chinese Oil Buying From Saudi Arabia Surges, Likely at Africa’s Expense

Saudi Arabia is emerging as an increasingly important hub on China's Belt and Road Initiative as Beijing turns to the Kingdom for an increasingly large share of its oil procurement. Last year, two-way trade surged 23% year-on-year to $78 billion, and even amid the ...

China Claims It’s Done More to Relieve Developing World Debt Than Any Other G20 Member

Chinese Finance Minister Liu Kun provided a robust defense of Beijing's participation in the G20's Debt Service Suspension Initiative and said his government is doing more than any other in the group in providing billions of dollars of debt relief to the world's poorest countries.

All This Talk About Vaccines Gives a Desperately-Needed Boost to Two of Africa’s Largest Oil Producing Countries

The prices for Nigerian Bonny Light and Angolan Cabinda crudes have regained some lost ground in November thanks to the Pfizer vaccine news and the U.S. elections. Given that both countries face enormous debt servicing challenges, these higher oil prices will help to replenish government coffers. China ...

Where Does China Buy Its Oil?

Africa's share of China's oil imports has been steadily declining over the past 15 years but the continent nonetheless remains Beijing's second-largest source of crude after the Persian Gulf. In 2008, according to George Washington University China-Africa scholar David Shinn, China imported close ...

With Prices Low Again, China To Go on Another Oil Buying Binge That Will Help Some African Countries More Than Others

China's Ministry of Commerce is going to allow private companies and other "non-state entities" to buy 20% more oil next year in a move that will be enthusiastically welcomed by beleaguered oil-producing states, including many in Africa, currently suffering from persistently low prices. ...
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