As a lender, it is in China’s interest to consider upfront debt treatment for countries with unsustainable debt burdens.
Higher interest rates in the U.S. can have a detrimental effect on the economic, political, and social well-being of developing nations.
The share of uneducated workers in China’s labor force is larger than that of virtually all middle-income countries.
Chinese development banks made only $3.7 billion in new overseas loan commitments in 2021 — nearly a 96 percent drop from the peak of $87 billion in 2016.
As the world’s most developed countries craft a new narrative that more strongly links aid to climate change and humanitarian crises, African countries can tip the balance in their favor.
Poor countries know the risk of being punished by existing creditors, prospective investors, and rating agencies if they seek a debt moratorium.
In 2019, many African countries spent more money servicing their debts than they did on health.