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Africa

China Says Allegations It Causes Debt Trap for Africa Are False | Source: Bloomberg

China said it was false to claim that its lending practices have pushed African nations into debt traps, blaming a host of economic factors instead and criticizing media reports on the topic. China has come under fire for its lending practices to developing nations, particularly around the confidentiality of contracts between its state banks and debtor nations. Several African countries, including Kenya and Zambia, have struggled to repay their loans as the Covid-19 pandemic wreaked havoc on their economies.

Source: Bloomberg


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