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China rejects Africa’s ‘debt trap’ claims, calls for abandoning ‘geopolitical games’ on the continent


https://sputniknews.com/20221213/china-rejects-africa-debt-trap-allegations-calls-for-dropping-geopolitical-games-on-continent-1105412026.html

China rejects claims of ‘debt trap’ in Africa, calls for abandonment of ‘geopolitical games’ on the continent

China rejects claims of ‘debt trap’ in Africa, calls for abandonment of ‘geopolitical games’ on the continent

China rejects accusations of creating a “debt trap” for Africa, said Qin Gang, Chinese ambassador to the United States ahead of the US-Africa summit. Several US officials had deemed Chinese lending policies in Africa “predatory”.

2022-12-13T10:17+0000

2022-12-13T10:17+0000

2022-12-13T10:17+0000

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China has dismissed accusations of creating a “debt trap” for Africa, said Qin Gang, Chinese ambassador to the United States, ahead of the US-Africa summit. Previously, several US officials had called China’s lending policies in Africa “predatory”, as quoted by the media. According to World Bank President David Malpass, about 60% of developing countries, including those in Africa, are at risk of a debt crisis. Malpass noted that “the amount owed to China is about 66% of the total for official bilateral creditors.” Qin Gang, however, cited a report, according to which African countries owe three times more debt to Western private lenders than to China. The ambassador called for abandoning “geopolitical games” on the continent and developing international cooperation, including between China and the United States, for the benefit of African people. China is Africa’s largest direct investor and trading partner. Many Chinese-led infrastructure projects are currently underway in several African countries. In Tanzania, for example, more than 1,100 Chinese projects with a total value of around $9.8 billion are registered. Recently, China also granted 50 million yuan ($7.1 million) in debt relief to Rwanda as a sign of “sound bilateral cooperation”. Experts say the US-Africa summit is part of Washington’s efforts to counter Beijing’s growing influence in Africa. US officials deny the accusations, saying Washington is not asking its African partners to choose between the United States and China. Last year, US Secretary of State Antony Blinken also said it was time Africa was treated as a major player in its own right and not a geopolitical topic.

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china africa debt trap, us-africa summit, qin gang, chinese ambassador to us, debt in africa, us and china in africa

The United States-Africa Summit, held in Washington, DC from December 13-15, involves 49 delegations from African countries as well as one from the African Union. The White House earlier announced that the goals of the forum were to strengthen ties between the United States and African states to advance shared priorities.

China has dismissed accusations of creating a “debt trap” for Africa, said Qin Gang, Chinese ambassador to the United States, ahead of the US-Africa summit. Previously, several US officials have called China’s lending policies in Africa “predatory”, as quoted by the media.

“China’s investment and financial aid to Africa is not a trap. It is an advantage,” he stressed, noting that through the continent’s cooperation with Beijing, “you can see hospitals, highways, airports, stadiums” in Africa.

According to World Bank President David Malpass, about 60% of developing countries, including those in Africa, are at risk of a debt crisis. Malpass noted that “the amount owed to China is about 66% of the total for official bilateral creditors.”
Qin Gang, however, cited a report that African countries owe three times more debt to Western private lenders than to China.

The ambassador called for abandoning “geopolitical games” on the continent and developing international cooperation, including between China and the United States, for the benefit of African people.

China is Africa’s largest direct investor and trading partner. Many Chinese-led infrastructure projects are currently underway in several African countries. In Tanzania, for example, more than 1,100 Chinese projects with a total value of around $9.8 billion are registered. Recently, China also granted 50 million yuan ($7.1 million) in debt relief to Rwanda as a sign of “sound bilateral cooperation”.
Experts say the US-Africa summit is part of Washington’s efforts to counter Beijing’s growing influence in Africa. US officials deny the accusations, saying Washington is not asking its African partners to choose between the United States and China. Last year, US Secretary of State Antony Blinken also said it was time Africa was treated as a major player in its own right and not a geopolitical topic.



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