Germany’s Ambassador to Ghana Explains Why He Thinks China is Hesitating to Set Up a Creditor Committee

The German government is advocating on behalf of Ghana for China to stop stalling in the creation of a new Creditor Committee that will restructure Accra’s debts.

Last week, Ghana officially became the second African country in the post-pandemic era to default on some of its commercial debts after it missed a $40.6 million payment to bondholders.

  • 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


source https://chinaglobalsouth.com/2023/02/28/germanys-ambassador-to-ghana-explains-why-he-thinks-china-is-hesitating-to-set-up-a-creditor-committee/

Comments

Post a Comment

Popular posts from this blog

First U.S. Conservatives Thought IMF SDRs Would Bolster China, Now Some Say It’s The Solution to Countering Beijing

U.S. conservatives can’t seem to agree if the issuance of IMF Special Drawing Rights (SDRs) is a “bail-out” for China, or a tool to counter Beijing’s growing influence in the Global South. 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 First U.S. Conservatives Thought IMF SDRs Would Bolster China, Now Some Say It’s The Solution to Countering Beijing appeared first on The China Africa Project . source https://chinaafricaproject.com/2021/09/23/first-u-s-conservatives-thought-imf-sdrs-would-bolster-china-now-some-say-its-the-soluti...
Read more

A Groundbreaking New Report Provides Unprecedented Insights Into Chinese Lending Practices Around the World

A new report provides an unprecedented view into Chinese loan contracts with dozens of governments throughout the Global South. Researchers from AidData, the Kiel Institute, and the Center for Global Development analyzed 100 contracts between Chinese state-owned entities and government borrowers in 24 countries and then compared the terms of those contracts with those of other bilateral, multilateral and commercial creditors. China’s lending practices are notoriously opaque and until now very few people other than key principals involved in the actual loans have had the opportunity to review these contracts in detail so as to better understand the specific legal terms and how they’re structured. What the research team discovered is that China is “a muscular and commercially-savvy lender” who employs contract terms that are in many ways quite similar to those of other international creditors. However, they did note a number of key differences that highlight how China structures its d...
Read more

A New Piece of Equipment in Zambia Will “Help China Get Rid of Its Over-Reliance of Imported Australian Iron Ores”

An article in  today’s Global Times newspaper , one of China’s more bombastic nationalist tabloids, provides a glimpse into how determined Chinese officials are to “decouple” their trade with Australia, especially in the hugely valuable iron sector. Sino-Australian relations  deteriorated sharply in 2020  over disputes related to the origin of COVID-19, the South China Sea, and Huawei. Now,  Beijing appears determined to use Australia’s dependence on the Chinese market  as a weapon to retaliate against Canberra for what it sees are malign attacks. To that end, a Chinese team in Zambia installed the NEUH-60, a piece of equipment that will reportedly enhance Zambian iron ore to a similar level of quality as Australian ore. It’s clear from the quotes used in the Global Times story that the researchers involved in the project are clear about the objective: “Now China is enhancing the development of African iron mines, when the necessary bedrock infrastr...
Read more