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AFRICA CHINA

Macron and Biden want to force China to play ball on African debt

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“Debt diplomacy”

AFRICA

Debt diplomacy

Because the fight to contain it has involved the use of public funds, the Covid-19 pandemic has led to an explosion of debt throughout Africa, forcing countries to seek a moratorium from the G20 and bring in consultants to help them negotiate with their sovereign, private sector and institutional creditors. In the West, the growth of African countries' debt has led to fierce competition between private and public sector creditors to obtain repayment of their debts. China is also involved but has shown little inclination so far to reschedule African countries' debts. [...]

On December 30, 2020, French President Emmanuel Macron took part in a videoconference bringing together his Chinese counterpart Xi Jinping and European representatives. © Sébastien Nogier/ Pool/EFE/Newscom/MaxPPP

Following the explosion in African countries' public debt caused by Covid, the European Union and the United States want to force China to take part in the collective rescheduling process organised by the G20 and the Paris Club. So far, however, China has given preference to bilateral negotiations with its African debtors, upsetting other creditor countries and causing confusion within the international financial institutions. [...] (956 words)

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Macron and Biden want to force China to play ball on African debt

Debt diplomacy

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Receive free prompts for these topics

Army receives C-Astral Slovenian drones as war escalates in Anglophone regions

Ethiopia to test new China-G20 compromise on debt

Macron puts finishing touches on Mediterranean summit

Kinshasa seeks advisors on revising 'infrastructure for minerals' and other China deals

US special envoy Jeffrey Feltman enlists help of Africa specialist Payton Knopf

Will Beijing boycott Macron's Africa Summit?

Financial services veteran Brendan Jones moves into venture capital with Adansonia

Government looks to Caixa Geral de Depositos to restructure its debt

Marathon debt cancellation talks under way ahead of summit season

Paul Biya Stadium plunges the country into further debt

France, Turkey, China and EU: the world war of Africa-themed summits Free

China and G20 clash again over Africa's debt, this time about cancellation

US issues aid ultimatum over human trafficking

Sudan's creditors will travel to Paris in May to discuss debt reduction

Seychelles refinances its debt with marine preservation fund

Ouattara wants to bypass traders on the Chinese front

Sovereign debt: Paris manoeuvres to involve Beijing in "new deal" with African states

The ins and outs of extending G20 debt moratorium again

Lourenço deploys dream team to renegotiate Chinese debt

Lusaka bets on gold to pay off its massive external debt

Lourenço finally takes up G20 offer to freeze public debt repayments

Governments seek guidance on hidden pitfalls of G20 debt moratorium

Chinese banks at heart of Angolan debt relief talks

DRC confuses Taiwan for China as it seeks to repay 30-year-old loan

NRGI warns of risks of resource-based lending

Frustrated Museveni finds Chinese loans come with political strings attached

Sassou takes advantage of IMF making peace with Beijing

Sicomines debts reach $2.56 billion

Trump seeks to nudge Lourenco out of Beijing's orbit

Debt: IMF, Lazard freres and DSK wary of Beijing's progress with Trafigura

China's hush-hush deals open doors to Argentine sovereign sectors

Intelligence-sharing at core of Washington's riposte to Beijing in Indo-Pacific region Free

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