China News Agency, Beijing, January 11. On January 11 local time, Chinese Foreign Minister Qin Gang and Chairman of the African Union Commission Faki jointly refuted the unreasonable accusation that China has brought a "debt trap" to Africa when they met with the press.
Qin Gang said that in recent years, African countries have been actively committed to promoting economic and social development, but insufficient funds have become the main bottleneck restricting Africa's prosperity and revitalization. How to balance the relationship between development financing and debt growth is a problem that countries must face in their development.
Qin Gang said that China and Africa are good brothers who breathe the same breath and share the same destiny, and the two sides are walking side by side on the road of common development.
China has always been committed to helping Africa alleviate debt pressure, actively participated in the G20 debt suspension initiative, and signed debt suspension agreements or reached consensus on debt suspension with 19 African countries, which is the largest amount implemented by the G20 members s country.
China has also actively participated in the G20 common framework to deal with individual debts of Chad, Ethiopia and Zambia.
President Xi Jinping announced at the Eighth Ministerial Conference of the Forum on China-Africa Cooperation that US$10 billion will be lent to African countries from the additional special drawing rights issued to China by the International Monetary Fund. Phased progress has been made in this work.
The World Bank's statistical report shows that multilateral financial institutions and commercial creditors hold nearly three-quarters of Africa's overall external debt, making up the bulk of Africa's debt. They can and should play a greater role in alleviating Africa's debt problems.
China calls on all relevant parties to contribute to easing Africa's debt pressure in accordance with the principle of "joint action and fair burden".
Qin Gang emphasized that the essence of Africa's debt problem is a development problem.
To solve the debt problem in Africa, we must not only treat the symptoms through debt disposal and other means, but also address the root causes, so as to enhance Africa's independent and sustainable development capacity.
China's financing cooperation with Africa mainly involves infrastructure construction and productive fields, focusing on improving Africa's independent and sustainable development capabilities.
The so-called "debt trap" by China towards Africa is a discourse trap imposed on China and Africa.
China's projects and cooperation in Africa have contributed to the development of Africa and the improvement of people's livelihood, and the African people have the most say in this.
China will continue to respect the wishes of the African people, based on the actual situation in Africa, bring tangible benefits to the African people through China-Africa cooperation, and achieve better common development.
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