Chinese loans

  • Africa & World

    Chinese Foreign Minister concludes five-nation Afica trip

    CHINESE State Councilor and Foreign Minister Wang Yi is due to conclude on Saturday his visit to five African nations, namely Nigeria, the Democratic Republic of the Congo (DRC), Botswana, Tanzania, and Seychelles. Braving the COVID-19 pandemic, the visit has particularly shown the great importance China attaches to maintaining its profound friendship with Africa. The message is resonant — China…

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  • Africa & World

    Tanzania’s Magufuli begs China to forgive his country’s debts

    TANZANIAN President John Magufuli on Friday, January 8, requested China to forgive some of the East African nation’s debts, including one incurred 50 years ago for the construction of a railway to neighboring Zambia. The Tanzanian leader has in the past made the same request to other creditors. Last April, he asked international lenders like the World Bank to cancel debts to…

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  • Africa & World

    China asked to save Zambia from imminent debt default. No one else can.

    By Simon Wolfe The Euro bondholders’ refusal last week to accept the Zambian government’s new repayment terms for its $3 billion bonds should come as no surprise. The Government of the Republic of Zambia (GRZ) announced that it was seeking to suspend debt interest repayments until April 2021, with no guarantee or plan as to how the government was going to find…

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