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Debt Relief with Chinese Characteristics

Author

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  • Brautigam, Deborah
  • Acker, Kevin
  • Huang, Yufan

Abstract

As China is poised to become the world's largest creditor, concerns about debt sustainability have grown. Yet considerable confusion exists over what is likely to happen when a government runs into trouble repaying its Chinese loans. In this paper, the authors draw on CARI data to review the evidence on China's debt cancellation and restructuring in Africa, in comparative and historical perspective. Cases from Sri Lanka, Iraq, Zimbabwe, Ethiopia, Angola, and the Republic of Congo, among others, point to patterns of debt relief with distinctly Chinese characteristics.

Suggested Citation

  • Brautigam, Deborah & Acker, Kevin & Huang, Yufan, 2020. "Debt Relief with Chinese Characteristics," SAIS-CARI Working Papers 2020/39, Johns Hopkins University, School of Advanced International Studies (SAIS), China Africa Research Initiative (CARI).
    • Handle: RePEc:zbw:cariwp:202039
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    Citations

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    Cited by:

    1. Gatien Bon & Gong Cheng, 2021. "Understanding China's role in recent debt relief operations: A case study analysis," International Economics, CEPII research center, issue 166, pages 23-41.
    2. Sebastian Horn & Carmen M. Reinhart & Christoph Trebesch, 2022. "Hidden Defaults," AEA Papers and Proceedings, American Economic Association, vol. 112, pages 531-535, May.
    3. Marson, Marta & Savin, Ivan, 2022. "Complementary or adverse? Comparing development results of official funding from China and traditional donors in Africa," Structural Change and Economic Dynamics, Elsevier, vol. 62(C), pages 189-206.
    4. Horn, Sebastian & Parks, Bradley & Reinhart, Carmen M. & Trebesch, Christoph, 2023. "China as an international lender of last resort," Kiel Working Papers 2244, Kiel Institute for the World Economy (IfW Kiel).
    5. Mandon, Pierre & Woldemichael, Martha Tesfaye, 2023. "Has Chinese aid benefited recipient countries? Evidence from a meta-regression analysis," World Development, Elsevier, vol. 166(C).
    6. Olivier Najar, & Pascale Scapecchi & et Ysaline PADIEU, 2022. "Fragmentation et diversification du financement du développement : les cas de la Chine, de l’Inde et de la Turquie," Working Paper 81567fdf-0daf-470c-9844-f, Agence française de développement.
    7. Farwa Sial & Juvaria Jafri & Abdul Khaliq, 2023. "Pakistan, China and the Structures of Debt Distress: Resisting Bretton Woods," Development and Change, International Institute of Social Studies, vol. 54(5), pages 1226-1263, September.
    8. Howard Nicholas & Bram Nicholas, 2023. "An Alternative View of Sri Lanka's Debt Crisis," Development and Change, International Institute of Social Studies, vol. 54(5), pages 1114-1135, September.
    9. Olivier Najar, & Pascale Scapecchi & et Ysaline PADIEU, 2023. "Development finance fragmentation and diversification: the case of China, India and Türkiye," Working Paper 81567fdf-0daf-470c-9844-f, Agence française de développement.
    10. Alice Nicole Sindzingre, 2021. "Economic Relationships Between Sub-Saharan Africa and China: An Alternative Theoretical and Policy Paradigm?," Post-Print halshs-03625159, HAL.
    11. Vatcharin Sirimaneetham, 2021. "Fiscal policy options to build forward better," MPDD Working Paper Series WP/21/07, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    12. Diwan, Ishac; Wei, Shang-Jin, 2022. "China''s Developing Countries Debt Problem: Options for win-win solutions," FDL Policy Notes 2204, CEPREMAP.
    13. Andreas Kern & Bernhard Reinsberg & Patrick E. Shea, 2024. "Why cronies don’t cry? IMF programs, Chinese lending, and leader survival," Public Choice, Springer, vol. 198(3), pages 269-295, March.
    14. Mihalyi,David & Hwang,Jyhjong & Rivetti,Diego & Cust,James Frederick, 2022. "Resource-Backed Loans in Sub-Saharan Africa," Policy Research Working Paper Series 9923, The World Bank.
    15. Bode, Eckhardt, 2024. "The motives for Chinese and Western countries' sovereign lending to Africa," Kiel Working Papers 2269, Kiel Institute for the World Economy (IfW Kiel).
    16. Oya, Carlos & Schaefer, Florian, 2023. "Do Chinese firms in Africa pay lower wages? A comparative analysis of manufacturing and construction firms in Angola and Ethiopia," World Development, Elsevier, vol. 168(C).

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