China cancels part of the Zimbabwe debt

China has canceled part of the loans granted to Zimbabwe. This Beijing action comes while Zimbabwe is faced with a large debt, largely contracted with China.

For several years, China has granted significant loans to Zimbabwe to finance major infrastructure projects, including the modernization of international airports and the expansion of thermal and hydroelectric power plants. However, the country has found itself in a situation of over -indebtedness, with a national debt amounting to billions of dollars.

China’s decision to cancel part of this debt is a commendable gesture, but the details on the exact amount canceled have not been disclosed. Some observers believe that this cancellation will probably not be very important, since Zimbabwe continues to increase its debt to China after the end of the regime of former President Robert Mugabe.

In September 2023, Zimbabwe debt guaranteed by the State amounted to $ 17.7 billion, including $ 12.7 billion in external debt and $ 5 billion in domestic debt.

Certain criticisms accuse China of deliberately lending countries knowing their reimbursement difficulties, with the aim of increasing its political influence on the continent. Despite these accusations, China affirms that its relations with African countries are based on respect for national sovereignty and non-interference in domestic affairs.