Focus on Arts and Ecology

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China on Western claims of debt trap in Africa

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February 3, 2023 

China rebuked Western countries' claim that China has caused a debt trap in Africa and should bear more responsibility in reducing Zambia's debt burden, with Mao Ning, spokesperson for the Chinese Foreign Ministry, saying that multilateral financial institutions and Western commercial creditors are the keys to alleviating Africa's debt burden.

The spokesperson, citing figures disclosed by the Zambian Finance Ministry, said that 24% of Zambia's external debt is owed to multilateral financial institutions and 46% to commercial creditors, mostly Western creditors, which means the two bodies are the keys to reducing Zambia's debt burden.

She noted that infrastructure projects China financed in Africa are results of win-win cooperation, which promotes local economic development, improves people's livelihood and enhances African countries' capacity for independent and sustainable development.

(Sources: China Report)

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