Chinese overseas lending / SYC
Seychelles: debt owed to China
In 2021, Seychelles is estimated to have owed China $0, equal to 0.0% of its GDP, which ranks it 121 of 126 borrowers in the panel by dollars owed. The estimated stock peaked at $1.22m in 2009.
The estimated stock, 2000 to 2021
The largest single-year move in the estimated stock is 2007, when it rose by $0.40m.
Source: Horn, Reinhart and Trebesch, China’s Overseas Lending. Selection: estimated stock owed to China by Seychelles, by year and instrument, 2000 to 2021. Zeros are estimated zeros (no known loans outstanding), not missing values. Methodology
Against what Seychelles reports owing to all creditors
No comparison is possible. Seychelles has no row in the World Bank International Debt Statistics table. There is no reported all-creditor stock to measure the China estimate against, so the ratio is n/a, not zero and not a hundred percent. This is a difference in the scope of the two datasets, not evidence of anything hidden. The two-sources page lists every borrower in this position.
Chinese restructurings involving Seychelles
6 deals recorded between Seychelles and Chinese state creditors. These are context, not accounting: the source records face-value reduction as a flag rather than a magnitude, so no haircut percentage exists for them, and nothing here is netted off the estimated stock above.
Creditor: China Ex-Im Bank
Final rescheduling between China Ex-Im Bank and the Seychelles that covered three different loans: 1) The 1997 Government Concessional Loan that had been restructured in 2000, 2001, 2003 and 2006 2) The 1998 Government Concessional Loan that had been restructured in 2004 3) The 2005 Government Concessional Loan for 8 mn RMB with original terms as follows: 2% interest rate, 10-year maturity, and 4-year grace period The 2011 restructuring increased maturities by roughly 15 years and grace periods by roughtly 10 years. See Garnder et al. (2020) for a hair-cut estimate.
AidData 2.0; Gardner et al. (2020); Acker et al. (2020)
Creditor: China Ex-Im Bank
Fourth rescheduling of the 1997 China Ex-Im Bank RMB 50 mn Government Concessional Loan for the East Coast Housing Project with original loan terms as follows: 4% interest rate, 8-year maturity, and 3-year grace period. In 2006, China Ex-Im Bank granted an additional 2-year grace period extension.
AidData 2.0; Gardner et al. (2020)
Creditor: China Ex-Im Bank
China Ex-Im Bank reschedules the 1998 87.98 mn RMB Government Concessional Loan for the Les Mamelles Housing Project with the following original terms: 4% interest rate, 8-year maturity, and a 4-year grace period. In 2004, China Ex-Im Bank granted a 8-year maturity extension, a 1-year grace period extension and an interest reduction of 200 bps.
AidData 2.0; Gardner et al. (2020)
Creditor: China Ex-Im Bank
Third rescheduling of the 1997 China Ex-Im Bank RMB 50 mn Government Concessional Loan for the East Coast Housing Project with original loan terms as follows: 4% interest rate, 8-year maturity, and 3-year grace period. In 2003, China Ex-Im Bank granted an additional 3-year maturity and 2-year grace period extension.
AidData 2.0; Gardner et al. (2020)
Creditor: China Ex-Im Bank
Second rescheduling of the 1997 China Ex-Im Bank RMB 50 mn Government Concessional Loan for the East Coast Housing Project with original loan terms as follows: 4% interest rate, 8-year maturity, and 3-year grace period. In 2001, China Ex-Im Bank granted an interest rate reduction of 200 bps.
AidData 2.0; Gardner et al. (2020)
Creditor: China Ex-Im Bank
First rescheduling of the 1997 China Ex-Im Bank RMB 50 mn Government Concessional Loan for the East Coast Housing Project with original loan terms as follows: 4% interest rate, 8-year maturity, and 3-year grace period. In 2000, China Ex-Im Bank granted a 3-year maturity and a 3-year grace period extension.
AidData 2.0; Gardner et al. (2020)
Source: Horn, Reinhart and Trebesch, Hidden Defaults (World Bank Policy Research Working Paper 9925). Selection: every recorded restructuring agreement between Seychelles and a Chinese state creditor. Face-value reduction is a 0/1 flag in the source, not a percentage; the badge appears only where the source sets it. Methodology