How is China going to handle debt relief in Africa? - SupChina
Free

We're a new type of news publication

China news you won't read elsewhere.

Weekly Newsletter

Get a roundup of the most important and interesting stories coming out of China.

Podcasts

Sinica, TechBuzz China, and our 6 other shows are the undisputed champs of China podcasts. Listen now.

Feature Articles

Interactive, web-based deep dives into the real China.

Premium

Join the thousands of executives, diplomats, and journalists that rely on SupChina for daily analysis of the full China story.

Daily Newsletter

All the news, every day. Premium analysis directly from our Editor-in-Chief Jeremy Goldkorn.

24/7 Slack Community

Have China-related questions and want answers? Our Slack community is a place to learn, network, and opine.

Free Live Events & More

Monthly live conference calls with leading experts, free entry to SupChina live events in cities around the world, and more.

"A jewel in the crown of China reporting. I go to it, look for it daily. Why? It adds so much insight into the real China. Essential news, culture, color. I find SupChina superior."
— Max Baucus, former U.S. Ambassador to China

Free

We're a new type of news publication

China news you won't read elsewhere.

Weekly Newsletter

Get a roundup of the most important and interesting stories coming out of China.

Podcasts

Sinica, TechBuzz China, and our 6 other shows are the undisputed champs of China podcasts. Listen now.

Feature Articles

Interactive, web-based deep dives into the real China.

OR… for more in-depth analysis and an online community of China-focused professionals:

Learn About Premium Access Now!
Learn More
Minimize
Learn More
Minimize

How is China going to handle debt relief in Africa?

With economic conditions across Africa rapidly deteriorating, leaders across the continent are escalating their calls for the international community to provide emergency debt relief. Until this week, though, those appeals have been broadly targeted, not singling out any particular country or creditor. 

But that changed on Monday when Ghanaian Finance Minister Ken Ofori-Atta specifically named China. “African debt to China is $145 billion or so, over $8 billion of payments is required this year,” he said during an online video discussion with the Washington, D.C.–based Center for Global Development. “So that needs to be looked at,” he added.

The following day, Ofori-Atta’s comments were raised at the Chinese Foreign Ministry’s regular press briefing in Beijing, where spokesman Zhao Lijian said discussions are now underway with African governments.

So now the more pressing question is what will Chinese debt relief in Africa look like? Anti-debt campaigners like the Jubilee Debt Campaign and certainly some African governments are advocating for Beijing to cancel the debt in Africa. Experts, though, say if China’s past record is anything to go by, then that is highly unlikely.

Agatha Kratz, associate director at the New York–based independent research firm Rhodium Group, and her colleague Matthew Mingey, a research analyst there, closely follow Chinese lending practices around the world, including in Africa. Both are confident that China will likely enact some form of debt relief for the continent, but, like everyone else, they are unclear as to how far the Chinese plan to go.

Agatha and Matthew join Eric and Cobus to discuss the debt crisis in Africa and possible scenarios for how the Chinese may respond.

Eric Olander and Cobus van Staden

Eric Olander is the Managing Editor of The China Africa Project. Cobus van Staden is currently the Senior China-Africa Researcher at the South African Institute of International Affairs. They both host The China in Africa Podcast, a member of the Sinica Podcast Network by SupChina.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.