politics

Japan, African nations to voice concern over excessive debt at TICAD

10 Comments

Japan plans to include "concern" over excessive debt in the declaration for the Tokyo International Conference on African Development later this month, government sources said, a move aimed at calling out China's lending practices in the region.

China has been criticized for handing out large loans under its Belt and Road infrastructure development initiative to countries that are ill-equipped to pay off the debt, often called debt-trap diplomacy.

The seventh session of the conference, held once every three years, will take place from Aug 28 through 30 with leaders from 54 African countries and international organizations set to attend.

While named after the Japanese capital, the conference will be held in the nearby port city of Yokohama.

Japan wants the post-conference declaration to include references to some African countries being saddled with debt, and touch on the importance of "high quality" infrastructure, a phrase Japan often uses to differentiate its projects from Chinese ones.

Japanese Prime Minister Shinzo Abe, who will co-chair the conference, plans to announce steps to support Japanese firms that want to do business in the region, as well as measures to help African countries with fiscal consolidation, the sources said.

One such measure would be to send financial experts to debt-ridden countries on multiyear missions to help improve their finances, they said.

Japan, whose working-age population is rapidly shrinking, also hopes to make it easier for African students to find work in the country after graduating.

© KYODO

©2019 GPlusMedia Inc.

10 Comments
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I don't trust anything China is doing in Africa. They attempting to recolonize Africa. If African countries are smart then they will remove any incompetent morally corrupt leaders and kick China out as soon as possible!

Huawei employees reportedly caught helping African governments spy on opposition

https://news.yahoo.com/huawei-employees-reportedly-caught-helping-020551732.html

Yeah, I actually agree with the US policy on Huawei and any Chinese related companies!

4 ( +5 / -1 )

Japan plans to include "concern" over excessive debt in the declaration for the Tokyo International Conference on African Development 

Debtor Emeritus showing fake concern for African Countries debt.

If you are so concerned the right to do is forgive African Countries or champion the reduction of African Countries in G7 or G20.

4 ( +4 / -0 )

Japan talking about debt is like a fat nurse giving health advice.

5 ( +6 / -1 )

Africa does need a voice in the world arena, for sure. I’d like to see a ‘United’ African voice, as united as it can get.

4 ( +4 / -0 )

Japan wants the post-conference declaration to include references to some African countries being saddled with debt, and touch on the importance of "high quality" infrastructure, a phrase Japan often uses to differentiate its projects from Chinese ones.

Lies, lies. Statement should read Japan wants ti help increase the debt of african countries with ultra expensive infrastructure projects.

The truth is Japan never bothered about the african market that it was not worth wasting time on. Till date most japanese think africa is so far.

The chinese have made inroads into africa and it is paying off and japan is late as the train has taken off.

Hypocrites, if they are so concerned about african debt, a first start is help eradicate corruption, most of the infrastructure loans end up in foreign bank accounts of government official yet nothing has been done. Afterall who cares if some of the money in some individuals foreign bank account so far we get the contract.

0 ( +1 / -1 )

Truth be told , most African countries owe more to the Breton Woods and Co than to China. There's absolutely no comparison of the achievement by Africans with the cooperation of China in the last 20yrs compared to ANYONE else before.

I'd place much of these accusations on propaganda and the heavier sins by the inept, corrupt leadership of African countries. If one asks for a loan for a good cause and is awarded in good faith then squanders the funds, you don't blame the lender.

And, whoever told Africans that foreigners are their saviors? Until when will they be running in foreign capitals bowl in hand? Germany, Japan, S.Korea etc were once recipients of aid but within a generation they themselves became lenders, what's wrong with Africans?

I find it equally disturbing that these " lenders " seem happy to keep this racket going and not ask serious questions, I know I would, and if necessary I'd put my foot hard on someone's back side. This months end, again, like nursery school toddlers, they'll be running for treats at the beckon of a " school master" , No graduation.

-3 ( +0 / -3 )

Western aid usually comes with strings attached and dabbling in politics.

I found the Ghanian President Akufo Addo very eloquent in his speech at the U.N. while reading up on this topic.

https://www.ghananewsagency.org/politics/president-akufo-addo-s-speech-at-the-73rd-un-general-assembly-139234

4 ( +4 / -0 )

If we really want to help the African continent the globalists of this world should acquit their debt with the IMF and give back their concessions so they can harvest their natural resources themselves and keep the profit.

But unfortunately we all know that is not going to happen anytime soon.

1 ( +1 / -0 )

Western aid usually comes with strings attached and dabbling in politics.

And China's or Russian's aid doesn't?

1 ( +1 / -0 )

Even the "The Guardian" news and Hillary Clinton questions whether China's investment in Africa is a "win-win development" or "new colonialism".

https://www.theguardian.com/cities/2018/jul/31/china-in-africa-win-win-development-or-a-new-colonialism

https://www.reuters.com/article/us-clinton-africa/clinton-warns-against-new-colonialism-in-africa-idUSTRE75A0RI20110611

Africa has been warned.

1 ( +1 / -0 )

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