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Blog Post
June 20, 2023
The Biden administration’s efforts to provide attractive alternatives to Chinese finance in the developing world coincides with a period of pronounced financial stresses for these countries. After years of ready access to capital markets, coinciding with China’s rise as the dominant source of govern...
Dec
3
2021
10:00—11:00 AM Eastern Time (US and Canada)
November 22, 2021
Almost three decades after the highly indebted poor countries (HIPC) initiative cleared $76 billion in unsustainable debts from the balance sheets of 37 countries, the sovereign debt burdens of many African countries are once again approaching concerning levels. But despite the many similarities bet...
Blog Post
July 19, 2021
The G7 countries pledged a massive scale-up in support of developing-country financing at their recent summit in the UK. How it will be financed remains an open question. But analyzing trends in recent debt flows by lenders to developing countries, and taking stock of the Debt Service Suspension Ini...
Apr
16
2021
9:00—10:00 AM ET
April 07, 2021
China is the world’s largest official creditor, but basic facts about the terms and conditions of its lending were—until recently—obscured. On March 31, 2021, the Center for Global Development, in collaboration with AidData at William & Mary, the Kiel Institute for the World Economy, Georgetown ...
CGD NOTES
November 18, 2020
We examine the behavior of Chinese government lenders in two debt rescheduling episodes: a “low stakes” case involving Seychelles and a “high stakes” case involving the Republic of Congo. The fact that the Republic of Congo was worse off after rescheduling its debts with Beijing underscores the impo...
Blog Post
March 24, 2020
Debt relief for low-income countries is on the table of measures to consider for coronavirus response. The imperative right now is to get cash to LICs as quickly as possible. Suspending some debt service payments may be a good first step in freeing up some budget space for new spending. Beyond that,...
Blog Post
March 18, 2020
The experience of the 2007 global financial crisis can tell us a few things about how low-income countries could be affected by the coronavirus pandemic in the near term, even as we recognize that the myriad economic problems created by the pandemic are almost certainly greater in number and scale t...
Blog Post
October 24, 2019
Concerns about rising debt risks in developing economies were front and center at the annual meetings. HIPC is a useful reference point as we talk about a new round of debt crises. But thanks to the rise of China as a lender, the creditor community today looks much different from the HIPC creditor c...
Oct
17
2019
11:00—12:30 PM
September 26, 2019
Rising levels of external debt among developing countries has raised concerns about debt risks and revealed the degree to which the debt picture has grown increasingly complex. As developing country borrowers have gained greater access to a diverse array of creditors in recent years, so have they be...