This paper provides an evaluation of China's participation in the G20's COVID-19 Debt Service Suspension Initiative (DSSI). Through analysis of available data, more than 100 interviews, and fieldwork in Angola, Kenya, and Zambia, we argue, with some caveats, that the DSSI was a success. First,...

On March 25, 2020, as the COVID-19 pandemic swept across the world, the heads of the International Monetary Fund (IMF) and the World Bank proposed that the leaders of the world's 20 largest economies, the Group of 20 (G20), provide breathing space by suspending the collection of debt service on...

As China is poised to become the world's largest creditor, concerns about debt sustainability have grown. Yet considerable confusion exists over what is likely to happen when a government runs into trouble repaying its Chinese loans. In this paper, the authors draw on CARI data to review the...

As China is poised to become the world's largest creditor, concerns about debt sustainability have grown. Yet considerable confusion exists over what is likely to happen when a government runs into trouble repaying its Chinese loans. In this paper, the authors draw on CARI data to review the...

From modest beginnings in 1960, China has recently become a highly visible actor in Africa's lending landscape. African borrowers have built roads, installed electrical grids, and modernized their airports with Chinese finance. Yet when commodity prices and growth rates began to tumble in 2015,...

On September 29, 2021, AidData, a research lab at William & Mary, released a detailed overview of their new data on China's global lending, "Banking on the Belt and Road." The report has generated much commentary. In this briefing paper, Deborah Brautigam and Yufan Huang examine the data...

Small states have always been more vulnerable in the global economy. This is so because trade comprises a larger proportion of their economic activity, and because they lack the power to set the terms or make any of the rules that govern globalization. Studies of small states tend to focus on...

In December 2018, a leaked letter from Kenya's Auditor General (AG) warned that Kenya Ports Authority's assets-of which Mombasa Port is the most valuable-risked being taken over by China Eximbank if Kenya defaulted on the Standard Gauge Railway (SGR) loans. The rumor that Kenya had used Mombasa...

In December 2018, rumors began circulating that Kenya had staked its valuable Mombasa Port as collateral for US$ 3.6 billion in Chinese loans for the Standard Gauge Railway (SGR). New research from CARI shows why the collateral rumor is wrong. A CARI team of scholars and practitioners of...

This paper examines over 100 reported African hydropower projects with Chinese engagement, gleaned from media reports and lists compiled by organizations like AidData and International Rivers. The paper primarily finds that the Chinese are funding considerably fewer large hydropower projects...