Africa Monitor

Africa Monitor Intelligence

China-Africa: Debt “Elephant” in the Room in Dakar

The expansionist phase of granting credit for infrastructure, of which Angola is the main African example, is now followed by a careful management of the financial aspects of the relationship - kept outside the Forum and discussed bilaterally, as China has been committed to doing to avoid coalitions of African debtor countries that could harm its negotiating margin. Instead of large-scale concessional credits, and with countries like Angola already heavily indebted, a line of credit was opened to African financial institutions, not States. READ MORE