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CEMAC zone: Central Africa has an $18 billion debt to China

29/07/2021
Categories: General Information

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Central African countries have piled up a colossal debt to China. According to an official Chinese government document entitled "Chinese Loan to African Governments", it appears that China's claims to the CEMAC area amount to more than $17 billion.

 

According to the Chinese Ministry of Commerce, in 2018 Chinese Foreign Direct Investment (FDI) flows to CEMAC fell by $103 million compared to 2017, when they amounted to $193 million. Despite this decline, China remains a strategic partner for Central Africa. The countries of the zone owe more than $17 billion to China. At the top of the list of receivables is Cameroon with an estimated debt of $6.202 billion, followed respectively by Congo at $5.390 billion and Equatorial Guinea at $3.020 billion which form a leading trio. Gabon recorded $1.681 billion, while Chad and the Central African Republic total nearly $2 billion cumulatively. These figures confirm a trend observed since the 2000s that makes the Middle Kingdom the main bilateral donor to Central Africa, far from the European Union, which was for a long time the strategic partner, the other countries, among others the United States, Russia, India or Brazil being content with the menu fretin.

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