China’s share of bilateral debt owed by the world’s poorest countries to members of the G20 has risen from 45 per cent in 2015 to 63 per cent last year, according to the World Bank. For many countries in sub-Saharan Africa, China’s share of bilateral debt is larger still. But Beijing’s involvement in a debt service suspension initiative from the G20 group of the world’s largest economies has been slow. “Some of the biggest creditors from China are still not participating and that creates a major drain on the poorest countries . has too many [Chinese] loans,” said a Chinese official in Ethiopia.

Source: Ethiopian News October 26, 2020 13:41 UTC