27.01.2026, 14:23
China has started spending less on poor countries and getting more from them
Source: OREANDA-NEWS
OREANDA-NEWS China's role in the fate of the poorest African countries has changed dramatically. This was reported by Reuters with reference to an analysis conducted by ONE Data.
It turned out that over the past ten years, the volume of loans that the PRC has issued to the states of this continent has sharply decreased. At the same time, their payments to Beijing on already issued debts continue to grow. By now, many low- and middle-income African countries are transferring more funds to China in the form of loan repayments than they receive in the form of new financing.
As a result, Africa has faced serious negative consequences. It is becoming increasingly difficult for the Governments of a number of its States to finance public services and invest in the development of their own economies.
In the spring of 2023, China agreed to cooperate with the G20 as part of the group's overall program to restructure the sovereign debt of developing countries. At that time, Chad, Ethiopia and Zambia had registered to participate in it.
It turned out that over the past ten years, the volume of loans that the PRC has issued to the states of this continent has sharply decreased. At the same time, their payments to Beijing on already issued debts continue to grow. By now, many low- and middle-income African countries are transferring more funds to China in the form of loan repayments than they receive in the form of new financing.
As a result, Africa has faced serious negative consequences. It is becoming increasingly difficult for the Governments of a number of its States to finance public services and invest in the development of their own economies.
In the spring of 2023, China agreed to cooperate with the G20 as part of the group's overall program to restructure the sovereign debt of developing countries. At that time, Chad, Ethiopia and Zambia had registered to participate in it.
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