International (Global)
China’s President Xi pledges another $60 billion for Africa Neglecting Old Debts
A Report by CNN states that Chinese President Xi Jinping has announced a $60 billion package of aid, investment and loans to Africa, against a backdrop of growing concern about rising debt distress on the continent. The announcement was made during the Forum on China-Africa Cooperation (FOCAC) in Beijing, a triennial meeting between senior Chinese leaders and their counterparts from across Africa. President Xi pledges another 60 Billion Dollars into Africa Economy.
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The financial package is the same amount Beijing pledged at the previous FOCAC summit in 2015, and is in line with analysts’ expectations that Xi would not vastly increase the amount of Chinese money flowing into Africa.
FOCAC 2018: what to expect from the high-level China-Africa summit, which starts today in Beijing https://t.co/I10jMJqjEv
— Africa-China Project (@witschinaafrica) September 3, 2018
Over the past nearly two decades, the numbers coming out of FOCAC have generally risen with each event. The pledge in 2015 was three times the figure announced at the 2012 forum.
Jeremy Stevens, international economist for the Standard Bank Group, said many felt it would not be “politically appropriate” to pledge huge loans given concern that Africa is becoming overloaded with Chinese debt.
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Stevens said Beijing’s decision not to hike loans to Africa shouldn’t be interpreted as a step back in relations.
“In reality it’s not — it’s a maturation and a natural evolution of the relationship,” he said.
Joe Biden has been sworn in as the 46th United States president as Harris becomes the Vice President.
She is America’s first female and first black Asian-American person to hold the office.
Biden took his oath of office on Wednesday at the capitol in Washington D.C.
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Chief Justice, John Roberts junior, administered the pledge at exactly 11:48am eastern time.
In his Inaugural address, Mr. Biden said it was a day of “history and hope”.
“my whole soul is in putting America back together again”.
Outgoing President, Donald Trump, did not attend the ceremony.
Meanwhile, former presidents, Bill Clinton, George Bush junior, Barack Obama and their wives were in attendance.
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A Turkish court has sentenced Kurdish former lawmaker, Leyla Guven to more than 22 years in jail on terror-related charges.
Leyla Guven, who was stripped of her parliamentary immunity in June, was convicted of membership of a “terror group” and disseminating “terror propaganda” for outlawed Kurdish armed groups.
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On Monday, Guven was given 14 years and three months in jail on a charge of membership of a “terrorist organization” and an additional eight years for two separate charges of disseminating “terrorist propaganda”.
Guven was not present at the court hearing in the predominantly Kurdish southeastern city of Diyarbakir, and her whereabouts were not immediately clear.
The court however, ordered Guven’s immediate arrest.
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Burundi’s Former President Pierre Buyoya, has died at age 71.
Buyoya served as President twice, from 1987-1993 and then 1996-2003.
His death comes three weeks after his resignation from the position of the high representative of the African Union for Mali and the Sahel region.
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Announcing his resignation, Buyoya said he needed time to focus on legal battles back home, following his trial in absentia and sentencing to life in prison.
Burundi’s top court sentenced Buyoya to life imprisonment in late October 2020, for alleged assassination of President Melchior Ndadaye who had won the 1993 elections.
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