China cancelled interest-free loans to African borrowers amounting to US$3.4 billion between 2000 and 2019. But China’s overall lending to Africa was US$152 billion between 2000 and 2018. Photo: AFPChina cancelled interest-free loans to African borrowers amounting to US$3.4 billion between 2000 and 2019. But China’s overall lending to Africa was US$152 billion between 2000 and 2018. Photo: AFP
China cancelled interest-free loans to African borrowers amounting to US$3.4 billion between 2000 and 2019. But China’s overall lending to Africa was US$152 billion between 2000 and 2018. Photo: AFP

China’s promise of loan write-offs for distressed African nations barely dents a much bigger debt crisis

  • Study finds no evidence of asset seizure by lenders or penalty on arrears, but researchers note a lack of transparency fuels suspicion of China’s intentions
  • China’s lending to Africa stood at US$152 billion between 2000 and 2018, much of which went to Belt and Road Initiative projects
Topic |   Xi Jinping
China cancelled interest-free loans to African borrowers amounting to US$3.4 billion between 2000 and 2019. But China’s overall lending to Africa was US$152 billion between 2000 and 2018. Photo: AFPChina cancelled interest-free loans to African borrowers amounting to US$3.4 billion between 2000 and 2019. But China’s overall lending to Africa was US$152 billion between 2000 and 2018. Photo: AFP
China cancelled interest-free loans to African borrowers amounting to US$3.4 billion between 2000 and 2019. But China’s overall lending to Africa was US$152 billion between 2000 and 2018. Photo: AFP
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