Analyst: Zambia Owes More Than Double the $12 Billion to China and Other External Creditors

Zambia owes $27 billion to external creditors rather than the $12 billion figure that is widely circulated in the media, according to Brad Setser’s reading of World Bank data on external debt. Setser, a senior fellow at the Council on Foreign Relations in New York, explained in a six-part Twitter thread that explained why Lusaka owes far more than is reported.

Key Highlights From Brad Setser’s Analysis on Chinese Debt in Africa

  • TRANSPARENCY: “The lack of accurate data is a function of Chinese policy not to be transparent: in almost every country, the same three Chinese institutions (China Exim, CDB and ICBC) account for the bulk of exposure (the Commerce Dept has some zero rate concessional loans).”
  • DSSI MISTAKE: “The World Bank and the G-20 erred in focusing on public and publicly guaranteed debt — when a lot of China’s project finance has been kept off the public balance sheet.”

Read the full analysis on Brad Setser’s Twitter page.

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Connect with leading professionals on the China- Africa Experts Network.

You've reached your free monthly article limit.

Subscribe today for unlimited access.

-17% Savings

The post Analyst: Zambia Owes More Than Double the $12 Billion to China and Other External Creditors appeared first on The China Africa Project.



source https://chinaafricaproject.com/2020/10/27/analyst-zambia-owes-more-than-double-the-12-billion-to-china-and-other-external-creditors/?utm_source=rss&utm_medium=rss&utm_campaign=analyst-zambia-owes-more-than-double-the-12-billion-to-china-and-other-external-creditors

Comments

Post a Comment

Popular posts from this blog

Chinese Car Brands Pulling Ahead in South Africa 

Chinese car brands like Chery and Haval are outselling traditional favorites like Mercedes Benz and Ford in the South African market. Both brands sold more than a thousand cars in July, far beyond Western competitors.  Read more on the News24 website … Get a daily email packed with the latest China-Africa news and analysis. Read exclusive insights on the key trends shaping China-Africa relations. Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South. China, Africa and the Global South... find out what’s happening. Subscribe today for unlimited access. Monthly $15/mo OR Yearly $149/yr (17% Savings) Already a subscriber? Log in Click Here to Learn More The post Chinese Car Brands Pulling Ahead in South Africa  appeared first on The China Global South Project . source https://chinaglobalsouth.com/2022/09/13/chinese-car-brands-pulling-ahead-in-south-africa/
Read more

Papua New Guinea, Micronesia to Sign Agreement With U.S. as Pacific Island Countries Increasingly Take Sides in Great Power Rivalry

Pacific Island Countries (PIC) are the current focal point in the escalating competition for influence between the United States and China around the world. Both Papua New Guinea (PNG) and Micronesia signed defense agreements with the United States on Monday  during a brief visit by Secretary of State Antony Blinken. Get a daily email packed with the latest China-Africa news and analysis. Read exclusive insights on the key trends shaping China-Africa relations. Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South. China, Africa and the Global South... find out what’s happening. Subscribe today for unlimited access. Monthly $19/mo OR Yearly $199/yr (17% Savings) Already a subscriber? Log in Click Here to Learn More source https://chinaglobalsouth.com/2023/05/22/papua-new-guinea-micronesia-to-sign-agreement-with-u-s-as-pacific-island-countries-increasingly-take-sides-in-great-power-r...
Read more

Chinese Media is Surprisingly Quiet Over DRC President’s State Visit to Beijing

Congolese ministers have been in Beijing all week  preparing for Wednesday’s arrival of President Félix Tshisekedi. Foreign Minister Christophe Lutundula met with his Chinese counterpart Qin Gang on Monday and Mining Minister N’samba Kalambayi held talks with both corporate and government stakeholders the following day. But you’d never know from the Chinese media that the leaders of one of Africa’s largest and strategically most important countries are in town. Get a daily email packed with the latest China-Africa news and analysis. Read exclusive insights on the key trends shaping China-Africa relations. Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South. China, Africa and the Global South... find out what’s happening. Subscribe today for unlimited access. Monthly $19/mo OR Yearly $199/yr (17% Savings) Already a subscriber? Log in Click Here to Learn More source https://chi...
Read more