TwentyTenDaily

Tag: China Debt Relief

  • What Is China’s Debt Relief Plan For Heavily Indebted African Countries?

    What Is China’s Debt Relief Plan For Heavily Indebted African Countries?

    China has revealed it has kickstarted its plan to cancel outstanding interest-free loans to indebted African countries and Rwanda has become one of the countries to benefit from this agreement, following the Apex lender’s recent forfeiture of an outstanding debt of $7.1 million. According to a statement by Rwandan Minister for Finance and Economic Planning,…

  • Japan Joins Investment Pool, Pledges $30 Billion in Aid for Africa

    Japan Joins Investment Pool, Pledges $30 Billion in Aid for Africa

    Japan has joined other countries like China and Russia to compete in Africa’s investment market. The country recently pledged $30 billion in aid for development in Africa, saying it wants to work more closely with the continent. At the eighth Tokyo International Conference on African Development (TICAD8) held in Tunisia, Japanese Prime Minister Fumio Kishida said…

  • Debt Relief: Is China Considering Blanket Forfeiture Of Africa’s Debt?

    Debt Relief: Is China Considering Blanket Forfeiture Of Africa’s Debt?

    Shortly after Covid-19’s destructive impact on the global economy, the Russian invasion hit the world, further worsening the economic outlook for vulnerable economies. Africa, already drowning in debt is left with no choice but to borrow more if it must survive these challenging times. According to the African Development Bank Group (AFDB), economic disruptions stemming…