China slams Yellen over Africa debt barrier

China clapped back at U.S. Treasury Secretary Janet Yellen this week after she accused Beijing of being a debt reform barrier for Africa and told Washington to deal with its own debt problem. The Chinese Embassy in Zambia said on Wednesday that the U.S. can act on responsible monetary policies, deal with its own debt problem and stop sabotaging other countries' efforts to solve their debt issues, the biggest contribution that is due to the debt issues outside the country.

Yellen arrived in Zambia Sunday to address debt reform in Africa, along with International Monetary Fund Managing Director Kristalina Georgieva.

U.S. officials have warned that China has looked to nations in Africa where it can give loans to poor nations that are unable to pay back the credit to keep them beholden to Chinese interests a scheme some have deemed debt trap diplomacy. In 2020, Zambia defaulted on its debt and made little progress in resolving its debt with China and private creditors, pushing its economy to the brink as poverty levels escalate.

The U.S. is facing its own financial woes as Republicans risk defaulting on the federal government s debt amid the GOP push to slash federal spending programs like Medicare and Social Security in the fight over the debt ceiling.

As U.S. lawmakers grapple with economy-based politics in Washington, Yellen has seen her own challenges during her three country trip to Africa, which is aimed at showing a commitment by the U.S. as a leading partner in the region.

Yellen's trip has been a hard sell from the Biden administration after aid to African nations was slashed under the Trump administration due to the economic hardship caused by the COVID epidemic and now the food shortages in Ukraine.

I don't know how I can give assurances, honestly, Yellen told Reuters when she traveled from Senegal to Zambia.

Yellen said both Democrats and Republicans have a vested interest in health and trade initiatives with African partners, but convincing African nations that Washington can be a reliable partner for the long haul is the ultimate challenge.