China's Xi Jinping promises to write off some of Africa's debts

China will exempt certain African countries from interest-free loans due by the end of this year, President Xi Jinping said late Wednesday. He was speaking at a summit about how China and Africa can fight the pandemic together.

Xi did not say which African countries would be exempt or how much debt would be erased outright.

By independent estimates, African countries are substantially indebted to China. Some 20% of African government external debt was owed to China in 2018, according to an estimate from the Jubilee Debt Campaign, a UK-based charity group which advocates for debt…

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