As China tightens its belt economically in response to the coronavirus, African leaders are anxious about the future of infrastructure projects, trade and, in some cases, are requesting debt relief.
But COVID-19 has taken a toll on the world economy, harming African countries’ ability to repay debt and decreasing China’s willingness to invest abroad.
That, first of all, given the massive amount of debt that the African countries owe China, whether it is financially feasible for China to forgive those debts is a key question here.”
“It doesn't mean that China will not engage in, for example, debt renegotiation or debt restructuring or even postponement to owe for a longer grace period for the African countries to pay back their debt.
Observers worry that as debt mounts, projects will go unfinished, or Chinese lenders will take control of African infrastructure in lieu of repayment.
