Molly Kilete, Abuja The Police Service Commission (PSC) has described the judgement by the Federal High Court... © 2019 The Sun Nigeria - Managed by Netsera.
Xi reiterated that the Chinese government would work with members of the G20 to help Africa overcome the global crisis. China's purpose in holding this forum is to demonstrate the strength of its commitment to the African continent. Chinese President Xi Jinping has said that China will cancel debts for African states worst hit by the coronavirus pandemic. And, as on 9/11, we need justice. With the warm and friendly atmosphere, the Summit turned out to be an efficient, pragmatic, productive and highly successful one. They will cost Solskjaer his job, https://www.lusakatimes.com/2020/06/18/boris-johnson-suggests-scrapping-uk-aid-to-zambia/. Aside other financial and institutional challenges, the COVID-19 outbreak has made it very difficult for African countries to pay back, given the impact of the pandemic on economic activities on the continent. At the Summit, Chinese and African leaders agreed to step up joint efforts to combat the disease and build a China-Africa community of health for all. ), Copyright © 2020 CGTN. It is laudable that China is thinking along this line. PHOTO | FILE | AFP. over schools reopening, Buhari approves new salary structure for teachers, Ekiti teacher, Asubiojo Henry Olaoluwa, emerges best teacher in Nigeria, SARS has outlived its usefulness – Activist, Police recruitment: PSC expresses happiness with court judgment, promises to work with Force Headquarters, School Reopening: 60,000 voluntary Environmental Health Workers deployed – FG, National Park Services calls for development of ecotourism. Even though the possibility of this scenario becoming reality is quite low, the risk cannot be underestimated. To cushion the impact of COVID-19 on China-Africa cooperation, the two sides agreed to strengthen Belt and Road cooperation and the follow-ups to the FOCAC Beijing Summit with greater priority given to cooperation on public health, economic reopening, and peopleâs livelihood, and to deepen cooperation in areas such as trade, connectivity and digital economy. Please enter your username or email address to reset your password. He also stressed that the G20 should consider extending debt service suspension to hard-hit countries in other parts of the world as well. Going forward, just like President Xi said, humanity will ultimately defeat the virus, and the Chinese and African people are poised to embrace better days ahead. Africa as a whole owes more than $300bn US dollars in debt, most of it to western countries.
Internal politics, economic instability bane of Nigeria’s foreign policy –Experts, COVID-19 has reversed almost all SGDs’ gains –Dr Uzodinma Adirieje, Chairman, CSOSG-SDGs, Why you should have a healthy financial plan, Displaced widow, children cry to Sanwo-Olu, IGP, World Teachers Day: Niger NUT commends Govt. First, the Summit further promoted China-Africa solidarity against COVID-19. China has announced it will cancel more than $1bn of debt owed to it by poor African countries as part of a package aimed at helping Africa to develop. China to cancel debt for African countries hit by COVID-19, Milinkovic-Savic scored a double for Serbia. China has made major strategic achievements in the battle against COVID-19. The Summit is a special gathering of Chinese and African leaders as the two sides are uniting efforts against the disease.
China will also ramp up support for African countries and heavily indebted poor countries on the basis of the G20’s Debt Service Suspension Initiative.
China will continue to do whatever it can to support Africa’s response to COVID-19,” he said. The announcement came on the second day of the first ever China Africa forum, being held in Beijing.
our leaders are so foolish,they only care for themselves and make themselves more and more rich. This informed the demand by Africa on international organisations to support its call for a moratorium on all external debt and some debt write-offs, in order to ease the burden of the pandemic. Of these new cases, 242 are Kenyans while 29 are foreigners. They could reshape one that reflects the economic weight of each country and that guarantee, through independent supranational bodies, a fair market structure that cannot be monopolized by a single country according to its own interests. Gates' remarks went unheard in the government, judging from a recent Washington Post report that some White House officials have been considering to offset the cost of coronavirus outbreak in the U.S. by cancelling some or all of the 1.1 trillion dollar debt the United States government owes to China. Sino-African trade is tiny compared to its trade with the West and Chinese investment on the African continent is almost non-existent. Individual class actions have also been started within the U.S. China and Africa called on the international community to firmly uphold multilateralism and oppose unilateralism and racism. These initiatives have attracted the attention of Bill Gates, who during an interview declared that shifting the focus to China represents a distraction and underlies how the U.S. has poorly handled its COVID-19 response in comparison with other countries. China happens to be Africa’s biggest lender with debts worth more than $150 billion between 2000 and 2018.
China is now Africa's biggest creditor and is owed some $145 billion by the continent, including some $5 billion by Kenya. “We must mobilize necessary resources, stick together in collaboration, and do whatever it takes to protect people’s lives and minimize the fallout of COVID-19,” he said. ... don’t be dumb guys,do u think the chinese can cancel the debts just like that? From China's perspective, the threat of U.S. cancelling debt could certainly push the country to speed up the cutting of its holdings in the U.S Treasury bonds, a move that the country has already started to put into practice last year when Japan became the largest holder of … Beside multilateral engagement with countries on the continent, China has bilateral relationship with some states. The important consensus reached at the Summit, in keeping with the trend of the times, will help promote global response to the virus, safeguard the common interests of China and Africa and the entire developing world, and uphold multilateralism and international equity and justice. Jinping also said China shall always remember the invaluable support Africa gave the Chinese at the height of battle with the coronavirus. President Xi put forth a series of important initiatives and proposals in his keynote speech. Speaking at the Extraordinary China-Africa Summit on Solidarity against COVID-19 in Beijing, 17 June 2020, the Chinese President said the sudden onslaught of COVID-19 had taken a heavy toll on countries around the world and has pledged his country’s total commitment to ending the pandemic. We commend and urge the Chinese authorities to walk the talk in the debt relief. Print this page. In this sense, the threat to cancel China's holdings in the U.S. Treasury bonds could be a golden opportunity for other countries to reform global financial markets by finding alternatives to the current U.S. centric system. Public debt as a percentage of GDP is already reported to have doubled in more than a quarter of sub-Saharan African countries like Angola, Cameroon, Equatorial Guinea and Nigeria. The Summit is most relevant and timely, and its important influence and far-reaching significance will be long-lasting. The two sides, always enjoying each otherâs understanding and firm support, once again displayed with concrete actions the fraternity between them come rain or shine and the spirit of the China-Africa community with shared future.
Links to more Asia-Pacific stories are at the foot of the page. We are always looking for ways to improve our stories. He pledge that once the development and deployment of COVID-19 vaccine is completed in China, African states will be among the first to benefit. Recently, multilateralism is facing headwinds, racism is resurging, and some country attempts to politicize the virus, putting international equity and justice under challenge. Save my name, email, and website in this browser for the next time I comment. It is believed that emerging from the test of COVID-19, the bond between China and Africa will only become stronger and China-Africa friendship will strike deeper roots. Meanwhile, China has already pointed out that it is open to an international, open and transparent investigation to determine the origin of the virus.
In his keynote speech entitled âDefeating COVID-19 with Solidarity and Cooperationâ delivered at the summit, President Xi also announced that for those African countries that are hardest hit by the coronavirus and are under heavy financial stress, China will work with the global community to give them greater support, by such means as further extending the period of debt suspension, to help them tide over the current difficulty.Â. The picture shows President Donald Trump listens as Treasury Secretary Steven Mnuchin speaks about the coronavirus on April 21, 2020. Second, the Summit further demonstrated the strong mutual support underpinning the China-Africa relations. “First, we must stay committed to fighting COVID-19 together.
Editor's note: Matteo Giovannini is a finance professional at ICBC in Beijing and a member of the China Task Force at the Italian Ministry of Economic Development. He said China would start ahead of schedule the construction of the Africa CDC headquarters this year and would work with Africa to fully deliver the health care initiative adopted at the FOCAC Beijing Summit, as well as speed up the construction of China-Africa Friendship Hospitals and the cooperation between paired-up Chinese and African hospitals. Recently, it sent some medical personnel and equipment to Nigeria in support of efforts to tackle the COVID-19 pandemic. This was announced by Chinese President Xi Jinping when he chaired the Extraordinary China-Africa Summit on Solidarity Against COVID-19 in Beijing on June 17, 2020. /AP. The Milan Derby will be on October 17, Roy Keane's 1-6 loss to Tottenham: the game of some is a disgrace to the Manchester United logo. From China's perspective, the threat of U.S. cancelling debt could certainly push the country to speed up the cutting of its holdings in the U.S Treasury bonds, a move that the country has already started to put into practice last year when Japan became the largest holder of U.S. Treasuries holdings. “In return, when Africa was struck by the virus, China was the first to rush in with assistance and has since stood firm with the African people,” Jinping said. The two leaders agreed to continue working closely together to safeguard common interests, including on matters concerning the United Nations Security Council. He scored his first goal a minute and a half after coming on as a substitute, Serbia and Scotland will compete for the group with England and Croatia, and Georgia may get to the Euro for the first time.
The recent announcement that China will cancel the interest-free debts of African countries originally due to mature by the end of 2020 is a huge relief to the continent. They urged for joint support for the leading role of the United Nations and WHO in the global response to COVID-19, and stressed the need to oppose politicizing and labeling COVID-19 and avoid racial discrimination and stigma. By Chu Maoming, Chinaâs Consul General in Lagos
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