China writes off Malawi loans, wants tight security in Africa

China has announced it is to write off all interest free loans and soft loans to Malawi and other African countries.

Look East sweet news: Malawi President Mutharika with Chinese Premier Li Keqiang

Look East sweet news: Malawi President Mutharika with Chinese Premier Li Keqiang

The deputy Chinese ambassador to Malawi said this Tuesday in Lilongwe at a news conference ahead of Africa China summit to be held in South Africa in December and Malawi President Peter Mutharika will attend.

The deputy ambassador said the move would accelerate development in Malawi and other African countries, most of whom are fighting chronic poverty, 50 years after independence.

However the Chinese envoy could not say how much Malawi owes China in soft loans and interest free loans and ministry of Finance officials asked for more time to cross check the figures.

China’s assistance to Malawi has been growing steadily, he pointed out.

The envoy said China has set aside US$2 billion for development activities in Africa and another US$12 billion to enhance trade with African countries and promised that China would remain a friend to the continent..

He said China wants to enhance security programmes in Africa so that the continent is a paradise of investment opportunities.

China has emerged as an alternative lender to the International Monetary Fund for the poor African nations with no conditionalities.

The Chinese aim to improve its ties to African countries on which it relies for oil, copper and other commodities that fuel China’s booming economy.

But Beijing’s involvement has been criticized for resource-extraction projects accused of being exploitative, and for striking deals without adequate concern for human rights. Critics argue that Chinese investors should demand transparency and good governance before granting aid and financing development projects.

Follow and Subscribe Nyasa TV :

Please share this Article if you like Email This Post Email This Post

More From Nyasatimes

More From the World

31 thoughts on “China writes off Malawi loans, wants tight security in Africa”

  1. Pats says:

    There is nothing for mahala. They took more than what the malawian govt got from the. China is playing the same game like europe. Developing their nation with raw material from africa. Same format.

  2. Sean mwangulu says:

    CHINA NDI DEAL

  3. wika says:

    The point to remember is; what the Goverment gives, it must first take away.by……

  4. China do us favor,
    Can’t you buy us Our own own National Flight

  5. murupale says:

    Wakwiya ndi mfiti…What ever China wants in Malawi pliz go ahead…what we want is a financial support….Some stupid opposers think we should keep on suffering……hehedeeeeee …ambwenu mbwenu kunyasa ngati mulomo wachakwera…

  6. Gas Machinehead says:

    Mbanga, I agree with u 105%

  7. pyuta says:

    ngongole ngongole ngongole

  8. Prince Edward rsa says:

    The loan pocketed by pitala then how malawians can benefit it nosense.

  9. Mlauzi says:

    One cannot comment meaningfully on the matter unless one sees the figures. I mean we need to see the real impact on the economy. Otherwise, some real good tidings for Malawi and Africa in general. We need to take advantage of the opportunity cost of not repaying the said loans/ interest and redirect the resources meant for same on other priority areas such as Health, Agriculture, Education, Public Infrastructure etc.

  10. mbanga says:

    bushiri has bought a second plane. as a man of God he must give one to APM

  11. Kenkkk says:

    Yes writing off loans after benefitting more than usual from allegedly uranium samples smuggled out by dubious hidden agreements signed by dpp thugs and thieves.

  12. Mateyu says:

    We have been there before and dpp even had a cloth to commemorate debt cancellation under hipc.what happened? Nothing.and when a ministry asks for more time to check how much we owe the Chinese then know that our systems are bad which is why we cant even pass the accesss to information bill.

  13. Vincent says:

    Bushiri’s home district has no good roads and wants to donate to Sudan? Hospitals are crying. Upulofeti😂

  14. Mwikho says:

    There is a story behind.

  15. Prophet Justice says:

    We will subtly pay more

  16. Mzeé Ben says:

    Kaya tiona

  17. Berson says:

    china onoooeeee! a bingu oooeee! APM ooeee1Now bingu is vindicated to have declared that a true friend is now China and not the west who enjoy the indirect colonial rule in form of conditionalities.How on earth can somebody decide tn lender alms to the poor ones and then dictate on how tn use it?Long live china!we’re proud of you.

  18. phodo says:

    A friend in need is a friend indeed. China is a friend in need. Not economists from Western worlds. Far Eastern world is the way to go if Malawi wants to move out of poverty to prosperity.

  19. bobiyo says:

    no free lunch these days, there is a cost to that, a big one for that matter

  20. Sapitwa says:

    When things are going bad, the Presidency shoulders the blame. Likewise when things go well, the Presidency shoulders the credit!
    If it was the time of MCP government, we could have been hearing all praises: “wa nzeru zakuya”, ” Kamuzu ndi Nkharamo” ” Mose wa ku Malawi”
    APM deserves credit because not all Chinese loans in Africa have been written off.

  21. Jerejede says:

    good news but i thick its high time we start borrowing from Prophet Bushiri,who during mondays diplomatic service told the gathering that the following day( tuesday) he will leave for South Sudan to donate $5 billion meant for infrastructural development like raods,those who were watching can agree with me im not lying.I just said to myself why not poor Malawi and choosing S.Sudan?????

  22. kukongola satsatsa says:

    Are we not embarrassed for the unreasonable borrowing we make. I would really want to know what we borrowed for. Usually, we borrow to consume. Shame! Shame! Ine za ekonomikisi zimandicheka koma at least I was told kuti borrowing to consume is total absurdity. As a country, we can improve I think.

  23. Mwalusya kuvotera wamama winu....kkkk says:

    Dziko through infrastructure limachita bwino not budgetary suport ukunenazo ndi izo mukumva tasiya kuthandiza pamene Airport akamanga zadzagumulalanso kkkkkkkkkk

  24. Mwalusya kuvotera wamama winu....kkkk says:

    OOOOH mukufuna ife tizifa mukanena kuti sitikupatsani ndalama za HIV/Aids kagwereni uko. China Woyeeeeeeee

  25. SONG says:

    Even if China writes off interests rates and soft loans but we remain poor and poor and China remain richer and richer because China does not employee Malawians may 3% only and china uses materials from their country not local. How can citizens benefit, Western countries steel are important in terms of development of the country because they support the budget of the country. So lets wait and see then.

  26. MCHEMO says:

    GOOD DEVELOPMENT INDEED. WE NEED FREE-FROM-STRINGS HELP IN ORDER TO CATAPULT OUR INFRASTRUCTURE DEVELOPMENT. NOW USA COME ALONG ON THIS PATH SHOWN BY BEIJING!

  27. The real Ujeni says:

    Now will wait and see DPP supporters saying Mutharika has engineered this debt cancellation when in actual fact China is cancelling these debts for all Africa countries. And the announcement has been made even before the South Africa Summit

  28. Josophat Returns says:

    Bravo China. You are indeed a good friend to the African continent. Osati azunguwa.

  29. Antoni apaphata says:

    Zolowere ndikudyele mwana…. there is an issue beyond this.

  30. Patriot says:

    In exchange of FREE Oil extraction.
    Free Niobium and Free etc etc mineral resources we got.
    UNDER THE LEADERSHIP OF CHITSULO CHA POTO WA ALUMINIUM,
    MALAWI TO REMAIN POOR

  31. Myao says:

    NOW ACCESS TO INFORMATION BILL WOULD’VE ASSISTED ALL US TO PROVE THAT GOVT IS NO LONGER OR WILL NO LONGER BE SERVICING THESE LOANS, EEETU EEH!

Comments are closed.