African agency, COVID-19 and debt renegotiations with China

Africa is facing a new debt crisis, exacerbated by the COVID-19 pandemic. China, a major creditor nation, has demonstrated a willingness to negotiate debt relief measures with African states on both a bilateral and multilateral basis. An assessment of African agency in bilateral debt renegotiations...

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Bibliographic Details
Published in:The South African journal of international affairs 2023-01, Vol.30 (1), p.1-27
Main Authors: Bagwandeen, Mandira, Edyegu, Christopher, Otele, Oscar M.
Format: Article
Language:English
Subjects:
African agency
China
China-Africa swaps
COVID-19
Creditors
Debt cancellation
debt-trap
Multilateralism
Negotiation
Pandemics
Public debt
Zambia
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Summary:Africa is facing a new debt crisis, exacerbated by the COVID-19 pandemic. China, a major creditor nation, has demonstrated a willingness to negotiate debt relief measures with African states on both a bilateral and multilateral basis. An assessment of African agency in bilateral debt renegotiations remains a conundrum for China-Africa observers, however, due to the secretive nature of these talks. Given the power deficits that African states hold relative to China, this article, on the basis of the application of an analytical framework and a study of the Zambian case, argues that it would be more strategic for African officials to engage with the Chinese via multilateral channels when it comes to debt renegotiations. Additionally, in view of decreased Chinese lending and the concerns of Chinese creditors about their debt exposure in Africa, the article provides a brief look ahead at the future of Chinese lending to the continent.
ISSN:1022-0461
1938-0275
DOI:10.1080/10220461.2023.2180083