China canceled $30 billion in debts by 35 African countries

[Sonyuke_Songpaisan]

you don't live in mainland china，do you？
No one mainlander would say 30 billion is peanut especially when you decide to give this money to beggar and no repayment.
And it's obivious that it didn't stop someone who want to call chinese slaver from calling it ，because they just want to call us slaveholder ，isn't it？
and lastly，it's 3 billion ，not 30 billion ，re**rd.

Never brush your month?

 

[HavocHeaven]

Was that 3 bn USD, 30 bn USD or 30 bn RMB? 30 bn USD is way too much imo.

 

[Martian2]

Was that 3 bn USD, 30 bn USD or 30 bn RMB? 30 bn USD is way too much imo.

If you read the original post very carefully, most of the Bloomberg article talks about events over a decade. By the way, American news articles are always talking about U.S. dollars unless they indicate otherwise.

China forgave $30 billion U.S. dollars of African debt over ten years.

By the end of 2009 "35 African countries had debts canceled by China, amounting to approximately $30 billion." (Source: http://www.bloomberg.com/news/2011-...frica-exceed-world-bank-funds-fitch-says.html)

[Note: The dollar symbol "$" always means U.S. dollars.]

 

[Justice Seeker]

He does not understand tha 30 billion is peanuts to a country with nearly 4 trillion dollars in foreign reserves(when Hong Kong is included).

What the 30 billion does is strike a dagger at the hearts of those Westerners who say that China is only in Africa to exploit the Africans and has no interest in the welfare of Africans at all.

Wrong, the West is not stupid as you though and they never stay still to let your idol China show off with the World.

The West has the most powerful propaganda machine on earth, and that help them control the whole human for hundred years so far.

Changing white to black or black to white is not a hard job to the West, and China is just a clownish country boy in world affairs.

 

[EAsian]

it's＂ 30亿美元＂in chinese news，that means $3 billion.
bloomberg has some stupid employees indeed.
非洲在逆境中保持高速增长
2011年12月15日 02:01
　　当前，欧债危机 对非洲的传导性已开始显现。北非60%的出口创汇来自与欧盟的贸易，而南部非洲国家制造业1/3的利润依赖欧洲市场。同时，由于非洲国家外汇储备多以欧元和美元为主，欧债危机 发酵后，欧元和美元呈下跌趋势，进一步增加了非洲的通胀压力。东非多国通胀率已到达两位数，其中乌干达通胀率在今年10月已升至30.5%。
　　国际金融危机不但引发了发达国家的债务危机 ，也加剧了非洲国家的债务问题。据统计，撒哈拉以南非洲国家外债2010年达2310亿美元。尽管这一地区每年接受100亿美元援助，但同时还要支付140亿美元以上的外债。东非共同体各成员国央行的统计表明，过去一年，各成员国债务增长了10%至25%不等。南非储备银行统计表明，南非仅2010年第三季度外债总额就增长140亿美元，达到939亿美元。截至今年8月，赞比亚外债总量较去年底上升7.7%。尼日利亚外债从去年底的45.8亿美元上升至今年3月底的52.3亿美元，3个月内增长了14.16%。
　　作为对非第一大援助体、第一大投资方和第一大贸易伙伴，欧盟国家债务危机对非洲经济影响至深。随着欧债危机 的扩散，各种解决方案的外部效应也在不断显现，货币贬值、通货膨胀以及各国财政扩张政策影响，使撒哈拉以南非洲国家本已严峻的债务再攀新高。非洲国家和国际社会正积极应对非洲新债务问题，新兴市场国家将在缓解非洲债务负担方面发挥重要作用。
　　在忙于“自救”的情况下，未来欧盟对非援助和投资必呈减缓之势。从近两年看，对非援助和减债议题已成为“烫手山芋”。欧洲国家国内舆论和民意大多要求政府专心“自救”，而不是向外“撒钱”。今年7月英国首相卡梅伦访问非洲时曾表示英国要兑现对非援助承诺，维持对非投资规模，此举受到英国媒体批驳，被认为是“打肿脸充胖子”。
　　非洲国家飙升的债务引起人们对非洲大陆经济复苏势头的普遍担忧。非洲债务与发展论坛执行主任穆塔萨表示，外债严重损害非洲国家经济复苏，债务问题是非洲大陆发展中最大的障碍之一。
　　债务不断攀升给诸如东非共同体之类的区域经济体带来巨大风险，给正在复苏的地区经济造成严峻挑战。东非共同体曾打算在2012年实行货币同盟，在转向单一货币期间，各国需进行机构和立法改革，调整宏观政策，而坦桑尼亚达累斯萨拉姆大学经济学家恩古维认为，如果东非国家债务得不到有效控制，建立地区统一货币联盟的目标就会被推迟或者改变。
　　面对日益加剧的债务问题，非洲国家和国际社会都在纷纷探索应对措施。肯尼亚总统齐贝吉日前表示，非洲国家应创新合作模式，拓宽融资渠道，加强本地资本市场建设，挖掘本地资本市场潜力，以逐步减少对外债的依赖。南非贸工部长戴维斯日前表示，非洲国家需要用资源换取资金的模式解决发展资金短缺和外债问题。津巴布韦经济计划与发展部长塔皮瓦·马沙卡达表示，津巴布韦将建立一整套债务管理战略，采用最优方案来解决60%的债务，目前津巴布韦已经建立起一个债务管理办公室来解决债务问题。尼日利亚政府11月7日表示，该国2012年将削减5000亿奈拉(约合33亿美&#20803债务。
　　在积极应对偿债压力的过程中，非洲将保持增长态势，预计2011年 非洲经济仍将保持5%的增长率。其增长原因有以下几方面：一是非洲国家仍然对资源出口依赖性较强，而金融市场只处在起步阶段，对国际市场的“反应”较慢。只要国际能源和原材料价格不出现波动，非洲仍可抵住风浪；二是非洲国家近年来“自力更生”能力提升较快，2011年非洲地区一体化进程加速，南部非洲发展共同体、东南非共同市场和东非共同体制定“三方一体化”路线图以“抱团取暖”。同时，非洲也着力减少对外援的依赖度，以卢旺达为例，外援占其财政比例已由2000年的86%减少至2011年的41%；三是新兴国家对非洲经济发展的拉动效应。中国、印度等新兴国家大量企业走进非洲投资兴业，把非洲视为“机遇的大陆”而非“问题的大陆”。在对非洲援助和减免债务上，新兴国家表现积极。2000年至2009年，中国已免除35个非洲国家的312笔债务，总计189.6亿元人民币(约合30亿美&#20803。国际货币基金组织、世界银行等国际组织和有关国家在免除非洲债务方面也给予了不少支持。总的来看，欧债危机 还难以对非洲经济造成根本性冲击。

 

[EAsian]

$30 billion is insanely stupid.
Chinese is still a poor country，even US won't give that much money to beggar.
How can anyone believe it.

 

[Martian2]

I believe Fitch (the third-largest American credit rating agency), as reported by Bloomberg, is correct in saying that China canceled $30 billion of African debt over ten years.

Both Fitch and Bloomberg are very reputable corporations. Their news is highly reliable. Also, China has been disbursing tens of billions in loans to Africa over the last ten years. The Fitch/Bloomberg figure makes more sense, because 35 African countries couldn't repay the multiple rounds of Chinese loans given during the last ten years.

China's eight new measures to enhance co-op with Africa

Chinese Premier Wen Jiabao [R] meets with Ugandan President Yoweri Museveni in Sharm El-Sheikh, Egypt, Nov. 8, 2009. (Xinhua/Li Tao)

China's measure #3 is the most impressive: "Third, China will help Africa build up financing capacity. China would provide US$10 billion in concessional loans to African countries, and support Chinese financial institutions in setting up a special loan of US$1 billion for small- and medium-sized African businesses. For the heavily indebted countries and least developed countries in Africa having diplomatic relations with China, China would cancel their debts associated with interest-free government loans due to mature by the end of 2009."

http://www.china-wire.org ? Eight new measures to enhance co-op with Africa://http://www.china-wire.org ? Eight n...-op with Africa://http://www.china-wire.org ? Eight n...-op with Africa

"Eight new measures to enhance co-op with Africa
November 08th, 2009 | Xinhua

Chinese Premier Wen Jiabao on Sunday announced eight new measures the Chinese government will take to strengthen China-Africa cooperation in the next three years.

Eight new measures to enhance co-op with Africa
Chinese Premier Wen Jiabao speaks at the opening ceremony of the Fourth Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC) in the Egyptian resort of Sharm el-Sheikh, November 8, 2009. [Xinhua]

Wen announced the measures while addressing the opening ceremony of the Fourth Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC) in the Egyptian resort of Sharm el-Sheikh.

The eight new measures, succeeding the eight measures put forward by Chinese President Hu Jintao at the landmark Beijing Summit of the FOCAC in 2006, are aimed at pushing forward China-Africa cooperation in the next three years.

"The Chinese people cherish sincere friendship towards the African people, and China's support to Africa's development is concrete and real," said the premier.

"Whatever change may take place in the world, our policy of supporting Africa's economic and social development will not change," Wen said.

As the first of the eight new measures, China proposes to establish a China-Africa partnership in addressing climate change. China would enhance cooperation on satellite weather monitoring, development and utilization of new energy sources, prevention and control of desertification and urban environmental protection. China has decided to build 100 clean energy projects for Africa covering solar power, bio-gas and small hydro-power.

Second, China will enhance cooperation with Africa in science and technology. China proposes to launch a China-Africa science and technology partnership, under which China would carry out 100 joint demonstration projects with Africa on scientific and technological research and receive 100 African postdoctoral fellows to conduct scientific research in China.

Third, China will help Africa build up financing capacity. China would provide US$10 billion in concessional loans to African countries, and support Chinese financial institutions in setting up a special loan of US$1 billion for small- and medium-sized African businesses. For the heavily indebted countries and least developed countries in Africa having diplomatic relations with China, China would cancel their debts associated with interest-free government loans due to mature by the end of 2009.

Fourth, China will further open up its market to African products. China would phase in zero-tariff treatment to 95 percent of the products from the least developed African countries having diplomatic relations with China, starting with 60 percent of the products within 2010.

Fifth, China will further enhance cooperation with Africa in agriculture. China would increase the number of its agricultural technology demonstration centers in Africa to 20, send 50 agricultural technology teams to Africa and train 2,000 agricultural technology personnel for Africa, in order to help boost the continent's food security.

Sixth, China will deepen cooperation in medical care and health. China would provide medical equipment and anti-malaria materials worth 500 million yuan (US$73.2 million) to the 30 hospitals and 30 malaria prevention and treatment centers built by China and train 3,000 doctors and nurses for Africa.

Seventh, China will enhance cooperation in human resources development and education. China would build 50 schools and train 1,500 school principals and teachers for African countries. By 2012, China would increase the number of Chinese government scholarships to Africa to 5,500, and would also train 20,000 professionals for Africa over the next three years.

Eighth, China will expand people-to-people and cultural exchanges. China proposes to launch a China-Africa joint research and exchange program to increase exchanges and cooperation, share development experience, and provide intellectual support for formulating better cooperation policies by the two sides."

 

[Martian2]

Listing so many names prove anything???

When Bruno challenged the church saying earth was not the center of our lives, almost none believe in him. He was burned to death.

History shows he is right and the majority then was wrong.

About diplomacy, why don't you check any other country, when developing at China current GDP level, has been so generous to give away this much money? BTW, such give away is not for this one time, but happened a lot in the past as well???

Show me the country's name, the year of such cancellation of loans, and that year's GDP level for that country.

Do you see any other country in the whole world that is as dumb as China has ever been???

As for you, you are worse than a stupid pig.

The whole forum thinks you're nuts. Go make your own anti-China and anti-Africa thread in the World Affairs sub-forum.

Your constant repetitions of the same arguments against China-Africa friendship is annoying.

 

[ephone]

Are you nuts? What part of my comments are anti-China? China is my country. I do not agree with our government's stupid generosity. Does that make me anti-China?

Your comments are really beyond stupidity.

The whole forum thinks you're nuts. Go make your own anti-China and anti-Africa thread in the World Affairs sub-forum.

Your constant repetitions of arguments against China-Africa friendship is annoying.

 

[EAsian]

money cannot buy friendship.

 

[HavocHeaven]

If you read the original post very carefully, most of the Bloomberg article talks about events over a decade. By the way, American news articles are always talking about U.S. dollars unless they indicate otherwise.

China forgave $30 billion U.S. dollars of African debt over ten years.



[Note: The dollar symbol "$" always means U.S. dollars.]

could be a typo
http://politics.people.com.cn/GB/1026/14451095.html
accumulatively only about 25 bn RMB was waived as of 2009
by no means this number can magically reach 30 bn USD now

 

[ephone]

Exactly. You can add "Never".

money cannot buy friendship.

 

[FairAndUnbiased]

money cannot buy friendship.

bullshit. egypt, phillipines, qatar, UAE, bahrain

but it can buy silence.

 

[EAsian]

bullshit. egypt, phillipines, qatar, UAE, bahrain

but it can buy silence.

what do you mean?

 

[Sonyuke_Songpaisan]

Are you nuts? What part of my comments are anti-China? China is my country. I do not agree with our government's stupid generosity. Does that make me anti-China?

Your comments are really beyond stupidity.

For commie fans, CCP is equal to China.