April 1, 2023

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Optical loans of African countries against China | Africa | DW

Dakar hosts the eighth edition of the Sino-African Cooperation Council Ministerial Conference, a reflection of Africa and China’s activities and partnership plans.

The purpose of this meeting is to deepen relations between China and Africa and to promote sustainable development in order to build a community with a shared China-Africa future in the new era. However, there are doubts about the continued debt of African countries against China. Description of our correspondent in Tucker.

China leads in imports in Africa

Debt up to $ 153 billion

Loans from African countries to China vary from country to country. According to Chinese officials, China has lent $ 153 billion to African states and companies between 2000 and 2019.

President Xi Jinping made the pledge at the official opening of the Sino-African Cooperation Forum Ministerial Conference on Monday. “To cancel non-performing loans linked to low interest maturing inter-state loans from developing countries in Africa by the end of 2021”.

Chinese Investments in Africa - Country Comparison

Chinese Investments in Africa – Country Comparison

Lack of transparency

According to Senegalese economist Mor Kassama, the African debt problem is an opaque and sensitive issue, as the secret loans of African countries also belong to China.

“People see the secret debt of African countries to China as a matter of principle, Explains the economist. So far, our officials have not denied it. Chinese officials are still low.

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Mor Kassama mentions this “This is not the norm in terms of cooperation. One country can always lend to another, but all of this must be done with full transparency. But you know that the Chinese are less careful than Europeans and Americans in everything related to transparency. The fight against corruption and others can be dangerous, but. They will always be interested in finding markets and increasing their influence on the African continent, and it can really disappoint the African people. “

Govt-19, Energy, Construction, Industry …

For his part, the Senegalese president is still reaching out. He encourages China to pose “More optimistic and optimistic outlook on investment in Africa”:

“At a time when many African countries are preparing to exploit their significant gas resources, funding for the gas sector has come to an end on the pretext that gas is a fossil fuel, and that, above all, will be a deadly blow to our economies in the pursuit of a cleaner energy.

During this new meeting, African countries will review their relations with China in the fields of construction, industry, transport, health, education and mining.

>>> Read also: Facts about African debt to China

Chinese officials say it has already invested about $ 43 billion in Africa. Over the next few years, President Xi Jinping proposes to continue the concerted fight against Govt-19, among other things, by providing a billion additional vaccines, boosting trade and investment, promoting green growth and stabilizing stocks. And justice