Trouble Could Be Brewing Over China Dev…

On June 3, President José Eduardo dos Santos of Angola appeared in Beijing to ask for a repayment moratorium for at least two years and new credit for the country’s debt to Chinese banks for infrastructure development. With the price of crude having descended from above U$115 in June 2014 to below US$65 today, Angola is having serious problems meeting its debt obligation to China’s Export-Import Bank.

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