"Africa does not have a debt problem with China. About 10 countries have a debt problem with China, which leaves 44 countries that don't", emphasized the American journalist, listing Angola, Ethiopia, Kenya, Djibouti and Zambia as those with "serious debt problems".
Angola's debt to China is estimated at at least US$2.2 billion, largely with the oil produced in the country as collateral.
Eric Olander was speaking at a seminar organized by the Royal Institute of International Relations Chatham House entitled "Africa-China Relations: Short-term gains or long-term goals?
According to Olander, "Africa is no longer so important for China economically," as he diversified the suppliers of raw materials he purchased in Africa, such as oil, minerals and wood thanks to the New Silk Road.
"Until 2008, 30 percent of China's oil came from three African countries: the Republic of Congo, Sudan and Angola. In 2018, less than 20 percent came from only one country, Angola. Currently, China depends more on Russia, the Persian Gulf, the United States and Brazil," he said.
China's current main interest in Africa, he said, is political support in international organizations such as the UN, World Health Organization or World Trade Organization against the United States of America (USA).
Lawyer Jacqueline Musiitwa, founder of the Hoja Law Group in Uganda, agreed, comparing Africa to a "pawn" in the power struggle between China and the US.
On China's potential participation in multilateral debt suspension initiatives, academic Liu Haifang of Beijing University's Center for African Studies said she believes it will "fulfill its responsibilities" if the G20 decides to do so.
The G20 announced in October that it had extended the moratorium on public debt payments to official bilateral creditors until June of next year, admitting a further extension until December if economic and financial conditions had not improved by then.
In the communiqué, the G20 also announced that it will hold a meeting in November on the new framework it proposes for the issue of public debt, which has risen significantly in all countries, but in a particularly worrying way in developing countries, notably in Africa.
