PGII Will Channel a Lot of Private Capital to Developing Countries But What About the Debt?

Even as the G7 was unveiling its new Partnership for Global Infrastructure Investment (PGII), protesters in the Alpine town hosting the summit were calling for more action on infrastructure-related debt. This debate has recently centered around the impact of Chinese debt, particularly as part of Beijing’s Belt and Road Initiative. 

However, during the G7 summit, organizations like Oxfam highlighted the role of Western private sector lenders in the growing debt crisis sweeping across the Global South. “[Poor nations] are spending more repaying BlackRock than they are on health or education combined,” said Max Lawson, Oxfam’s inequality policy program. 

…

• 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.

OR

Already a subscriber? Log in Click Here to Learn More

The post PGII Will Channel a Lot of Private Capital to Developing Countries But What About the Debt? appeared first on The China Global South Project.

source https://chinaglobalsouth.com/2022/06/28/pgii-will-channel-a-lot-of-private-capital-to-developing-countries-but-what-about-the-debt/