John Wessels | Afp | Getty ImagesBEIJING — An ambassador of an African country to China has criticized the International Monetary Fund and the World Bank for restrictive lending policies.
"The problem is that the ratings we are making for the African [countries] should be different," Ibrahima Sory Sylla, ambassador for the West African country of Senegal, said Thursday at an event at Peking University.
The research claimed every 1% increase in Chinese loans resulted in an increase of 0.176% in African economic growth.
Allan Joseph Chintedza, ambassador of Malawi to China, said the report should look also at the repayment period for Chinese loans.
The East African country needs to provide a "sustainability letter" from the Chinese government in order to borrow more from the IMF, Chintedza added.
Persons:
John Wessels, Sylla, Poor's, Senegal's Sylla, Fitch, Wu Peng, Jang Ping Thia, Thia, Vladimir Putin, Allan Joseph Chintedza, Chintedza
Organizations:
Afp, Getty, BEIJING —, International Monetary Fund, World Bank, West, Peking University, Fitch, IMF, Bank, United, Loans, Boston, Global, Policy Center, CNBC, Asian Infrastructure Investment Bank, Initiative, Peking University's Institute, New
Locations:
Senegal's, Dakar, BEIJING, China, Senegal, West Africa, Africa, Beijing, Malawi