Wednesday, July 1, 2020

China to Cancel Debt on Interest-Free Loans to Africa

The Council on Foreign Relations blog posted on 30 June 2020 a commentary titled "As Africa Faces COVID-19, Chinese Debt Relief Is a Welcome Development" by Stephen Paduano, London School of Economics. 

President Xi Jinping's offer of cancelling debt on China's interest-free loans to Africa, about 5 percent of Africa's total debt to China, may appear as too little, too late, but the author argues it is still a welcome start.