Some US$ 8.2 billion in debt rescheduling came from Chinese creditors, about half of it in deals with Angola. “The moratorium marked the first time that Beijing participated in a multilateral sovereign debt relief effort,” said Deborah Brautigam and Yufan Huang, the paper authors. But “China’s heft as a creditor is greater in the low-income countries eligible for the DSSI,” the report said. The study comes amid scrutiny of how China will handle debt in Egypt and other economically distressed African nations. It follows a recent report that found China had committed $240 billion in rescue loans and other support for nations including Sudan, South Sudan, Tanzania and Kenya in recent years.

Source: The North Africa Journal April 09, 2023 01:25 UTC