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External debt: Guinea wants partial cancellation of 70% of its debt to China

30/08/2022
Categories: Economy/Forex

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The announcement by Chinese Foreign Minister Wang Yi on August 18, 2022, of debt cancellation for 17 African countries was welcomed with hope at Conakry by the National Rally for Development Committee (CNRD), which will celebrate, on September 5, the first anniversary of its coup d'État. If the promise of the Middle Kingdom materializes, Guinea's debt profile will improve sharply and fall by 32% since, according to official statistics, Beijing holds 70.3% of the country's foreign debt.

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