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.
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.
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.
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.
china-africa relations
