Despite Africa's Debt Trap, China Still Dominates Mega Projects | WHY?
Channel: TR MEDIA
Date: 2021-12-15

#china #chinadebt #africa
Prior to the epidemic, Chinese banks gave considerable debt restructuring to African governments and have continued to do so. Cooperation with China remains unpopular on Capitol Hill. However, knowing how Chinese financial institutions function in Africa may help shape the discussion on how to assist Africans recover from the economic repercussions of the pandemic.
According to our study at the Johns Hopkins SAIS China-Africa Research Initiative (CARI), China has played a key role in assisting African nations with debt management. Between 2000 and 2019, we found 16 examples of debt restructuring totaling $7.5 billion in ten African nations. China also wiped off at least 94 interest-free loans totaling at least $3.4 billion in arrears. However, interest-free loans account for less than 5% of China's lending to Africa.


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