Wednesday, June 20, 2018

Angola's Debt to China

The Financial Times published on 13 June 2018 an article titled "Angola's Debt Reliance on China May Leave It Short-changed" by Yigal Chazan, who works for a London-based business intelligence consultancy.

China has loaned Angola more than $60 billion since the two countries established diplomatic relations in 1983. At the end of 2017, Angola's debt to China amounted to $21.5 billion, about half of Angola's total external debt. Repayment is made by exporting oil to China at a time when Angola's oil production is falling, raising questions about Angola's ability to repay loans on schedule.

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