{"id":86488,"date":"2023-03-31T12:47:02","date_gmt":"2023-03-31T12:47:02","guid":{"rendered":"https:\/\/www.africannewspaper.net\/2023\/03\/31\/china-a-new-lender-of-last-resort-african-business\/"},"modified":"2023-03-31T12:47:09","modified_gmt":"2023-03-31T12:47:09","slug":"china-a-new-lender-of-last-resort-african-business","status":"publish","type":"post","link":"https:\/\/www.africannewspaper.net\/2023\/03\/31\/china-a-new-lender-of-last-resort-african-business\/","title":{"rendered":"China: A new lender of last resort – African Business"},"content":{"rendered":"
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African international locations are grappling with the advanced difficulty of the right way to rearrange their money owed in gentle of the extreme international financial downturn. The double whammy of Covid-19 and the Russia-Ukraine conflict has undermined the fiscal standing of countries throughout the continent, forcing talks with lenders, emergency bailouts and, in probably the most alarming circumstances, debt default.<\/p>\n
For almost all of countries in a good jam, looking for talks with lenders will nearly actually result in a standard vacation spot: China. During the last twenty years, Beijing and its community of state-owned banks have lent a whole bunch of billions of {dollars} to African governments. However what occurs when international locations can not afford to pay?<\/p>\n