China Cancels 23 Loans to Africa Amid 'Debt Trap' Debate

China Cancels 23 Loans to Africa Amid 'Debt Trap' Debate

Malaysia Sun-International·2022-08-26 05:07

JOHANNESBURG - A recent announcement by China that it is forgiving 23 loans for 17 African countries may be motivated by accusations of 'debt-trap diplomacy,' say some analysts.

Critics have long accused Beijing of practicing debt-trap diplomacy, suggesting it deliberately lends to countries that it knows cannot repay the money, thereby increasing its political leverage. China vehemently rejects this, alleging it's a way for the U.S. to discredit Beijing, Washington's main challenger in the quest for influence in Africa.

……

Read full article on Malaysia Sun-International

Politics Africa