What do we know about Africa’s debts to China?
But that is not the whole problem of Africa’s debt. Multilateral lenders – the World Bank, the International Monetary Fund and others – account for 20 percent of Africa’s debt service this year. Although these lenders undertake efforts to help countries repay their own loans, they do not relax repayment terms. Likewise, bondholders, who are responsible for 19% of 2021 debt service, have refrained from providing debt relief. For many African countries, the combined effects of this debt burden are disastrous.