Showing posts with label G-20. Show all posts
Showing posts with label G-20. Show all posts

Friday, September 5, 2025

South Africa Asks for Postponement of Naval Exercise with China and Russia

 The Associated Press published on 4 September 2025 an article titled "South Africa Asks China to Postpone Naval Exercises that Coincide with Possible Trump Trip for G20" by Gerald Imray.  

South Africa, China, and Russia had planned to hold their biennial joint naval exercise in late November.  South Africa asked China to postpone the exercise because it coincides with the 22-23 November meeting in South Africa of the G-20, which President Trump may attend.  

Wednesday, September 3, 2025

South Africa Schedules Joint Naval Drill with China and Russia

 Pravda published on 2 September 2025 an article titled "South Africa to Hold Joint Naval Drills with Russia and China During G20 Summit" by Anton Kulikov.

The South African National Defence Force will conduct the third stage of the MOSI joint naval exercise with Russia and China in November this year to coincide with the G-20 summit hosted by South Africa.  

Friday, February 21, 2025

US Absence from G-20 Meeting in South Africa Widens Open Door for China

 Politico published on 20 February 2025 an article titled "Rubio's G-20 Soft Power Surrender" by Phelim Kine.

The decision by Secretary of State Marco Rubio to boycott the G-20 meeting in South Africa this week gives Beijing more room to deepen relationships with countries of the Global South.  Coupled with the dismantling of USAID, this sends an especially negative message to Africa.  

Friday, February 2, 2024

Ethiopia's Foreign Debt Downgraded to Junk Status; About Half Held by China

 Nigeria's News Central published on 26 January 2024 an article titled "Ethiopia Defaults, Crumbling Under Chinese Loans" by Nesta Sani.  

Ethiopia is trying to restructure its foreign debt of about $28 billion, which Fitch Ratings has downgraded to junk status.  Chinese loans for infrastructure projects financed primarily by the Export-Import Bank and China Development Bank make up about half of the debt.  In 2023, China suspended debt payments due over the next 12 months.  It is not clear what happens when the debt suspension ends in July 2024.  

Wednesday, September 20, 2023

The New Cold War in Africa

 Foreign Affairs published on 20 September 2023 an article titled "Why the New Cold War Will Split Africa" by Brett L. Carter.

The second cold war is intensifying Africa's democratic recession.  Beijing and its junior partner Russia are strengthening Africa's dictatorships and facilitating backsliding in democracies.  Although the short-term dynamics favor China and Russia as partners for African countries, the long-term dynamics favor the United States.

Monday, June 26, 2023

China's Position on Restructuring Loan Debt

 Reuters published on 22 June 2023 an article titled "Explainer: What Is China's Position on Restructuring Debt Owed by Poor Nations?" by Joe Cash.

China wants multilateral lenders like the International Monetary Fund and World Bank to absorb some of the loses on loans to nations such as Zambia that are unable to meet their debt terms.  Paris Club countries, especially the United States, have resisted this request.  

Friday, April 14, 2023

China-US Disagreements for Alleviating Debt of Most Burdened Countries

 The Washington Post published on 13 April 2023 an article titled "U.S. China Split Shadows Hopes for Lifting Debt Load from Global Economy" by David J. Lynch.

China continues to resist the G-20 Common Framework proposal for alleviating the debt of especially burdened countries such as Zambia, Ethiopia, Ghana, and the DRC.  

Tuesday, April 11, 2023

Zambian Debt Relief Tests China

 Axios published on 10 April 2023 a commentary titled "Why Zambia's Debt Restructuring Is a Critical Test for China" by Kate Marino.  

China has been reluctant to accept the G-20s "Common Framework" roadmap for creditors to work out the debt defaults of lower income nations such as Zambia.  China says it wants to be "constructive" in these talks but has not yet committed to provide significant debt relief to Zambia.  

Tuesday, April 4, 2023

China, Africa, and the Debt Service Suspension Initiative

 The China-Africa Research Initiative published in April 2023 a study titled "Integrating China into Multilateral Debt Relief: Progress and Problems in the G20 DSSI" by Deborah Brautigam and Yufan Huang.  

The study evaluates China's participation in a major multilateral experiment in sovereign debt management: the G-20s COVID-19 Debt Service Suspension Initiative (DSSI).  The authors argue, with some caveats, that the DSSI was a success.  

First, it succeeded in providing a pathway for China, the world's largest bilateral creditor, to negotiate debt treatments together with the Paris Club in the Common Framework.  Second, China fulfilled its role fairly well as a responsible G-20 stakeholder.  Finally, the DSSI pushed the Chinese government to align interests among fragmented banks and bureaucracies with conflicting goals.   

Thursday, February 9, 2023

Smarter US Competition with China in Africa

 World Politics Review published on 8 February 2023 a commentary titled "To Compete with China the U.S. Must Take Africans Seriously" by Chris Olaoluwa Ogunmodede.

The author argues that "African leaders remain wary of grand pledges and empty rhetoric unmatched by concrete follow-through, as well as the arrogant paternalism that typically characterizes Washington's engagement with these countries."  But the author adds that China is no less prone than the United States to making mistakes in its interaction with Africans.  Nevertheless, Beijing's core arguments resonate better by default.  

Japan's model of cooperation with Africans may be the best one to emulate.  Washington could start by being a better listener with its African interlocutors.  

Monday, February 6, 2023

Ghana, China, and Debt Relief

 Reuters published on 4 February 2023 an article titled "China Must Join Ghana Debt Restructuring Effort Soon, Germany's Lindner Says" by Christian Akorlie and Cooper Inveen.  

Ghana is trying to restructure its $39 billion external debt in an effort to obtain a $3 billion loan from the International Monetary Fund.  Germany's finance minister singled out China during a visit to Ghana to do its part to restructure the country's debt. 

Friday, January 13, 2023

Chatham House Podcast on China, Africa, Debt, and Great Power Competition

 Chatham House posted on 13 January 2023 a podcast on "China in Africa" with a number of experts from Chatham House.

The first 19 minutes of the 30 minute podcast focused on African debt held by China and great power competition in Africa involving China, Russia, and the West.  


Tuesday, December 27, 2022

China-US Competition in Africa

 The Diplomat published on 16 December 2022 a commentary titled "China-US Competition Seems to Be Working For Africa" by Chensi Li and Sena Voncujovi, both with Development Reimagined.  

The authors argue that US-China competition  is providing tangible results for African countries although they will have to work hard to ensure that the commitments become a reality.  

Monday, December 12, 2022

China Casts Shadow on US-Africa Leaders Summit

 The South China Morning Post published on 10 December 2022 an article titled "At First US-Africa Summit in Years, China and Its Inroads on the Continent Expected to Cast Long Shadow" by Bochen Han and Jevans Nyabiage.  

The article compares the role of the United States in Africa with that of China, suggesting that Washington has a lot of ground to make up.  

Wednesday, November 16, 2022

Meeting of Presidents of China and Senegal in Indonesia

 The Diplomat published on 17 November 2022 a commentary titled "Don't Overlook Xi Jinping's Meeting with Senegal's President" by Shannon Tiezzi.  

As COVID-19 wanes, Xi Jinping is resuming his personal diplomacy.  On the sidelines of the G-20 summit in Bali, Indonesia, he held 11 formal meetings with foreign leaders, including Senegal's Maky Sall.  The meeting underscored the common view of both leaders on sensitive human rights issues such as the treatment of Muslims in Xinjiang.  

Monday, October 17, 2022

China Reluctant to Engage with Others on Debt Relief for Global South

 Reuters published on 14 October 2022 an article titled "Global Finance Leaders Single Out China as Barrier to Faster Debt Relief" by Andrea Shalal and Jorgelina Do Rosario.  

The G-7 argues that China is the missing piece in debt relief for the Global South.  China has not sent officials to participate in person at this week's IMF and World Bank meetings.  China has not agreed to participate in the G-7 roundtable on debt relief with African countries.  

Ethiopia: Civil War Delays Debt Relief

 Reuters published on 15 October an article titled "Ethiopia Debt Relief Delay Partly Due to Civil War, State Finance Minister Says" by Jorgelina Do Rosario and Rachel Savage.

Progress on Ethiopia's debt relief has been delayed by creditors, including its largest holders of debt, China and France.  The International Monetary Fund has not yet completed a debt sustainability analysis.  

Saturday, October 15, 2022

China's 20th Party Congress and Africa

 The Diplomat published on 14 October 2022 a commentary titled "What's At Stake for Africa in China's 20th Party Congress?" by Judith Mwai, Development Reimagined.

First, measures that affect China's economic growth will have a major impact on trade and travel with Africa.  Second, the Congress will impact loans to Africa and African debt held by China.  Third, there is a question whether China will continue to take steps to encourage the reform of multilateral institutions such as the G-20 that could benefit Africa.  

Tuesday, September 13, 2022

China's Interest-Free Loan Cancellations for Africa

 Boston University's Global Development Policy Center published in September 2022 an analysis titled "China's Interest-Free Loans to Africa: Uses and Cancellations" by Jyhjong Hwang and Oyintarelado Moses.

China recently announced it would waive 23 interest-free loans with maturity by the end of 2021 for 17 African countries.  The announcement of the cancellations did not elaborate on how much value they might represent, nor which 17 countries were involved.  The Global Development Policy Center calculated that the value of the cancellations could vary from $45 million to $610 million.  This range, even at the high end, constitutes a small portion of China's lending to Africa. 

Friday, August 5, 2022

Overstated Role of China in African External Debt

 The London School of Economics blog published on 1 August 2022 a commentary titled "How the US-China Rivalry Is Undermining Efforts to Address Africa's Debt" by Harry Verhoeven, Columbia University, and Nicolas Lippolis, University of Oxford.  

By imposing initiatives that do not acknowledge China's incentives or concerns, Western powers are undermining efforts at debt resolution, while failing to address the root causes of Africa's over-indebtedness.  Eurobonds have been the chief factor in the growth of African external debt.