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Africa-China’s debt diplomacy

LOANS have been used as weapon of underdevelopment of Africa by International Monetary Fund, IMF,  and World Bank. Loans from China are irresistible because they come with less strings attached on matters such as governance, democracy or human rights. Bureaucrats too can easily get a cut without much accountability. Yet, the loans are like a Trojan horse. Its consequences will be far-reaching.

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China imperialistic advances and African fossil fuels

African leaders converged on Beijing, China from September 3-4, 2018, for the Forum on China-Africa Cooperation, FOCAC. This is the third time the summit was held since it was launched in Beijing in 2000. The Chinese President Xi Jinping promised US$60 billion in both aids and loans to the African continent. The zero interest loans are to fund infrastructure investments in Africa.

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