Djibouti’s location on the Horn of Africa’s Bab-el-Mandeb Strait, that controls access to the Red Sea and the Suez Canal, has made it a major destination for Chinese capital. Photo: AP
Djibouti’s location on the Horn of Africa’s Bab-el-Mandeb Strait, that controls access to the Red Sea and the Suez Canal, has made it a major destination for Chinese capital. Photo: AP

Djibouti suspends China and other loan repayments, banks on forgiveness

  • Strategically important Horn of Africa nation is struggling under mounting financing pressures
  • The decision affects two of its bilateral creditors, with China holding vast majority of Djibouti’s debt

Djibouti’s location on the Horn of Africa’s Bab-el-Mandeb Strait, that controls access to the Red Sea and the Suez Canal, has made it a major destination for Chinese capital. Photo: AP
Djibouti’s location on the Horn of Africa’s Bab-el-Mandeb Strait, that controls access to the Red Sea and the Suez Canal, has made it a major destination for Chinese capital. Photo: AP
READ FULL ARTICLE