China does not typically divulge how much it has lent to whom or on what terms
, 62-km toll road being built between Masiaka, a business hub in Sierra Leone, and Freetown, the country’s capital, promises shorter journey times, fewer accidents and smoother drives. It is nonetheless controversial. Awarded to China Railway Seventh Group, the project added over $160m to the country’s foreign debt, according to the China-Africa Research Initiative at Johns Hopkins University.
Many, therefore, have wondered how China would play its part in the debt-relief initiative agreed in April by the20 group of big economies. That initiative will allow 73 of the world’s poorest countries to delay payments on loans from20 member, signed up. But would it offer the same terms as the others? And if so, how would they know? Proving China is doing its bit is hard if you do not know how much it has lent.
The new figures confirm Mr Pompeo’s observation that China is by far the biggest bilateral creditor to Africa, and in many poor countries elsewhere . It accounts for about 20% of the total foreign debt owed by the 73 governments eligible for the20 initiative . That is more than all of the Paris Club lenders, including America, Britain and Japan, combined. But it is also smaller than the estimate of over 25% based on figures from Mr Horn, Ms Reinhart and Mr Trebesch.
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