Where Credit is Due: How Africa's Debt Can Be a Benefit, Not a Burden-债各有主：非洲债务问题的祸福相依

经济学家Gregory Smith在本书中概述了一种他称之为“有目的的借贷”的方法，即把公共借贷与明确的发展战略联系起来，在官方债权人的利益之间进行更好的协调，让私人债权人采取更负责任的“良性”行动，并增强国际体系“监督和构建”的灵活性。Smith还用一章的篇幅介绍了中国对非洲的贷款，详细介绍了其规模、条件、性质、目的和风险，并讨论了中国几十年来对非洲国家的债务减免情况。

书名：Where Credit is Due: How Africa's Debt Can Be a Benefit, Not a Burden《债各有主：非洲债务问题的祸福相依》

作者：Gregory Smith

简介：Borrowing is a crucial source of financing for governments all over the world. If they get it wrong, then debt crises can bring progress to a halt. But if it's done right, investment happens and conditions improve.

African countries are seeking calmer capital, to raise living standards and give their economies a competitive edge. The African debt landscape has changed radically in the first two decades of the twenty-first century. Since the clean slate of extensive debt relief, states have sought new borrowing opportunities from international capital markets and emerging global powers like China. The new debt composition has increased risk, exacerbated by the 2020 coronavirus richer countries borrowed at rock-bottom interest rates, while Africa faced an expensive jump in indebtedness.

The escalating debt burden has provoked calls by the G20 for suspension of debt payments. But Africa's debt today is highly complex, and owed to a wider range of lenders. A new approach is needed, and could turn crisis into opportunity. Urgent action by both lenders and borrowers can reduce risk, while carefully preserving market access; and smart deployment of private finance can provide the scale of investment needed to achieve development goals and tackle the climate emergency.