atans1

Japan helps Africans to fight “Chinese debt trap”

In Accounting, China, Japan, Public Administration on 31/08/2019 at 4:07 am

Japan is hosting the Tokyo International Conference for African Development (Ticad) summit. And Japan’s prime minister, Shinzo Abe, is the co-host.

He warned African leaders about the dangers of accumulating too much debt, the AFP news agency reports. His comments are seen as a snarky warning about China’s role in Africa as Beijing is said to favour its own companies for big infrastructure projects.

He told the leaders attending the development conference in Yokohama that Japan was promoting “quality” investments to be supported by Japanese institutions, the agency reports.

Unlike China, Japan says sound financial advice and support is behind its Africa strategy.

Tokyo plans to train experts in 30 African countries in the next three years on how to manage risk and public debts, it says. It wants to send financial experts to debt-ridden countries on multi-year missions to help them improve their finances and thus avoud the “Chinese debt trap”: overborrowing from the Chinese, being dependent on the Chinese for financing and having to sell assets to repay the debts.

He said more entrepreneurs should be encouraged to improve economies on the continent.

“If partner countries are deeply in debt, it interferes with everyone’s efforts to enter the market,” the Japanese prime minister was quoted as saying.

 

 

 

 

  1. was chris k. at this conference ?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: