China turns cautious on lending to Africa amid default crisis fears

//China turns cautious on lending to Africa amid default crisis fears

China turns cautious on lending to Africa amid default crisis fears

In the past two decades, China has poured billions of dollars into the construction of ports, railways, highways and hydropower dams in Africa.But the continent is staring at a loan drought in the medium term as China and other lenders fear debt defaults in the fallout from the coronavirus pandemic, analysts say.Yun Sun, director of the China programme at the Stimson Centre in Washington, said China’s lending to Africa in general was expected to ease as the country grappled with its own…

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By | 2020-11-28T22:00:17+00:00 November 28th, 2020|Headlines|Comments Off on China turns cautious on lending to Africa amid default crisis fears