China Says Allegations It Causes Debt Trap for Africa Are False


Source: bnnbloomberg.ca bnnbloomberg.ca

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(Bloomberg) -- China said it was false to claim that its lending practices have pushed African nations into debt traps, blaming a host of economic factors instead and criticizing media reports on the topic. African nations’ debt problems are a historical issue, and also the result of rising protectionism and currency factors, Zhou Liujun, vice chairman of China International Development Cooperation Agency told reporters in Beijing on Tuesday. The agency is a body under the State Council that provide plans and policies on foreign aid. “Facts and data fully show that this accusation is purely politically driven,” he said. “Its...