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Tag Archives: IMF

[PODCAST] The UN’s role in China’s African development agenda

For decades, the aid and development sectors in Africa have been dominated by Western countries who have channeled billions of dollars through international organizations like the World Bank, IMF and the United Nations. Today, amid anemic economic growth in the U.S. and Europe combined with surging anti-globalism, those once generous development budgets are now in jeopardy. Largely immune from the populist ... Read More »

[AUDIO] IMF missteps over huge China deal in the Congo proves costly

In 2007 when China’s Exim Bank unveiled a massive $6 billion mining deal in the Democratic Republic of the Congo, it completely rocked the normally-staid world of international development finance. The agreement, known as “The China Deal” or Sicomines, was among the first of these huge Chineese infrastructure-for-resources deals that are now commonplace across Africa. Ten years ago, though, the ... Read More »

[AUDIO] Africa confronts tough choices as economies falter, instability rises

Faced with slumping economies, restive populations and, in many areas, the surging threat of sectarian violence, a growing number of African countries stand at a critical juncture where they must decide who to turn to for help: to their new friends in Beijing or to those ‘lenders of last resort’ in Washington, London and Brussels. Now that the days of ... Read More »

[AUDIO] China, Africa and the PRC’s massive new development bank

57 countries including two from Africa, are among the founding members of China’s new development bank, the Asian Infrastructure Investment Bank (AIIB). While the new bank’s primary objective will be develop infrastructure projects in Asia, as its name suggests, there is widespread anticipation (mixed with some hope) the bank will expand its scope of work to eventually include Africa and ... Read More »

[AUDIO] The BRICS Bank: China’s drive to shake up development finance

Brazil, Russia, India, China and South Africa (aka the ‘BRICS’) are moving forward with an ambitious plan to shake up the clubby world of development finance. The new BRICS bank announced over the summer 2014 is expected to have a profound impact on the African development finance sector as part of China’s broader effort to re-orient the international system away ... Read More »

[AUDIO] China’s most famous economist has a few suggestions for Africa

In the staid world of economics, Justin Yifu Lin is the closest one comes to being a bonafide celebrity. Lin is the former chief economist of the World Bank and, more importantly, among the lead architects of China’s three-decade-long economic renaissance that has produced the greatest economic expansion in human history. Now, Lin is taking the lessons learned from China’s ... Read More »

China in Africa: The Transparency Paradox

Transparency is a loaded word in the development business.  The idea that aid and investments in places like Africa should be subject to external audits and review is a sacrosanct principle within the industry.  Never mind the irony that organizations like USAID, the United Nations and the World Bank among others devote a majority of their time/effort with their aid ... Read More »