BEIJING, Aug. 20 (Xinhua) -- China has been helping African countries alleviate debt pressure through multiple channels, a commerce official said Tuesday. Under the framework of the G20's Debt Service Suspension Initiative, China has played an active role in helping relevant nations reach debt s...
It has carried out investment and financing cooperation with other developing countries based on the principle of equality and mutual benefit, and has always done its best to help them reduce debt burdens, he added. He said some politicians in the United States and other Western countries use va...
Overall, public debt rose above 50 percent of gross domestic product (GDP) in some 22 countries at the end of 2016, up from ten countries in 2013. According to the Brookings Institution, Cape Verde, Gambia, Congo, Mozambique, Mauritania, Sao Tome, Togo, Zimbabwe, Ghana and Sudan, respectiv...
CAPE TOWN, Oct. 28 (Xinhua) -- President Cyril Ramaphosa on Monday refuted allegations that a number of countries in Africa are being led into a debt trap as they take up loans to fund a number of projects. "One need only look at initiatives such as the Forum on China-Africa Cooperati...
BEIJING,April 10(Xinhua)--China is not the source of African countries'"debt trap,"but a partner to help them and other developing countries to escape the"poverty trap,"a spokesperson for the Chinese foreign ministry said Monday.Spokesperson Wang Wenbin made the remarks in response to ...
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“Infrastructure is fundamental to address challenges of poverty and foster economic growth. Some western media and officials accused China of laying ‘debt trap’ for African countries, which is an unfounded myth. The accusation is more about China-US strategic rivalry than a reflection of the rea...
Annual data over 1980-90 period for 39 African countries are employed and possible effects of various factors like the existing debt overhang; composition of external debts; external trade performances; foreign reserves position; foreign capital inflows; interest rate on the debts; level and growth ...
The causes of the debt crisis are multifaceted: the COVID-19 pandemic, geopolitical conflicts, a decline in global economic growth and economic structure vulnerabilities, among many other things, could all exacerbate the debt situation of some African countries. ...
“We need a much more efficient sovereign debt framework,” he said. “We need to be sure that resources are going to support countries rather than being used to service unsustainable debts.” Zambia defaulted on its external debts in 2020 and is stillstruggling to reach a restructuring agreeme...