Chinese bank loans cripple Latin America and Africa, says NGO

Countries in Latin America and sub-Saharan Africa have taken out at least $152bn in oil, mineral and metal-backed loans from China since 2004, money that has contributed to crippling debt levels, according to a report on Thursday by a Washington-based non-governmental organisation. Continue reading “Chinese bank loans cripple Latin America and Africa, says NGO”

Africans need the money now and Climate Change can wait

“Under no circumstances are we going to be apologizing,” said Gabriel Obiang Lima, energy minister of Equatorial Guinea, adding that they need to exploit those resources to create jobs and boost economic development.

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