“Many debt-financed projects will come under enormous strain this year as revenues dry up, and many will need to be refinanced and renegotiated. Many of these will be financed by China, giving the country opportunity to renegotiate terms," he said. “Debt-for-equity swaps may ultimately be a more sustainable deal for African countries, depending on the terms, and they may have little choice.”

Source: International New York Times April 29, 2020 05:15 UTC