Monday 21 January 2019
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africanews - 6 month ago

U.S. warns African nations against Chinese debt, offers sustainable alternative

The United States has issued yet another warning to African nations over the risk of being laden with unsustainable debt through large-scale infrastructure projects that are not economically viable. The criticism issued by the head of the U.S. Overseas Private Investment Corporation (OPIC) on Monday, comes as Washington seeks to ramp up development finance in the face of China’s global ambitions. Unveiled in 2013, President Xi Jinping’s “Belt and Road” initiative aims to build an infrastructure network

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