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    FG approves 300% increase in electricity tariff

    NERC has no authority over state tariff – Enugu Electricity Regulator

    US Court clears Donald Trump to run for President

    Breaking: US and EU agree trade deal

    Federal Government commissions three “ultra-modern” oncology centers

    Federal Government commissions three “ultra-modern” oncology centers

    How to register for Nnamdi Azikiwe University’s 2025/2026 Post-UTME and Direct Entry Screening

    How to register for Nnamdi Azikiwe University’s 2025/2026 Post-UTME and Direct Entry Screening

    Nnamdi Azikiwe University issues notice to Postgraduate Graduands on 17th Convocation Ceremony

    Nnamdi Azikiwe University’s guidelines for 2025/2026 POST-UTME, Direct entry screening exercise

    FG lists 4 border points in Ukraine Nigerians can cross to safety

    FG denies JSS1 admission age rumors, confirms 10-year minimum

    FG approves 300% increase in electricity tariff

    Enugu State Electricity Regulator lacks power to reduce electricity tariff – NERC

    UK bans Nigerian students and others from bringing family

    UK stops issuing new Health and Care Worker visas to foreign workers

    Trump wins a resounding victory in first Republican primary in Iowa

    Trump secures U.S. – Japan strategic trade and investment agreement

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    • Africa
    • World
  • Economy
    • All
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    • Economic Data
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    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

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    Aradel Holdings Plc reports N368.1 billion revenue for H1 2025

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    Custodian Investment Plc announces 25 kobo interim dividend

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    UBA commences Rights Issue of 3.15 billion ordinary shares

    Approval given for acquisition of International Energy Insurance Plc

    UAC of Nigeria Plc to acquire Chivita|Hollandia (CHI Limited)

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    Cryptocurrency: XRP hits new All-Time High at US$3.65

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

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    NGX Daily Equities Market Report: Market gains for third consecutive days

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    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

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    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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U.S Congress: Measures to permanently stop U.S. debt payments to China over Covid-19

Thursday, 11 March 2021, 6:46 pm
in News, World
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U.S Congress: Measures to permanently stop U.S. debt payments to China over Covid-19
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Republican U.S Congressman, Brian Mast is seeking to punish the People’s Republic of China for its handling of the COVID-19 pandemic by introducing a measure to permanently withhold payments from the U.S. and other countries on debts owed to them.

The congressman is set to roll out legislation this week to this effect, on the one-year anniversary of the World Health Organization (WHO) designating the novel coronavirus a global pandemic.

Mast’s legislation claims that the Chinese Communist Party “actively engaged in a cover-up designed to obfuscate data and hide relevant public health information,” which continues to “limit efforts to identify the original source of COVID-19.”

  • Read also; Use of Oxford/AstraZeneca vaccine suspended in three European Countries
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The measure states that the outbreak of COVID-19 is “a direct result” of China’s “appalling record of human rights abuses, including its suppression of the freedom of expression, as well as its aggressive domestic and global propaganda campaign.”

“The People’s Republic of China should be held accountable for its handling of the COVID-10,” the legislation states. “The United States and other countries should permanently withhold payments on debts owed to the People’s Republic of China in amounts equal to the public costs incurred by such countries relating to COVID-19.”

Mr. Mast of Florida told Fox News that the China’s total lack of transparency and mishandling of the coronavirus outbreak has cost hundreds of thousands of lives, millions of jobs, and left untold economic destruction in the United States.

“Congress must put America first and hold China accountable for their cover-up by forcing them to pay back the taxpayer dollars that have been spent as a result,” he said.

According to Mast’s office, as of November 2020, China owned $1.063 trillion of the total outstanding U.S. government debt issued by the U.S. Department of the Treasury.

Sen. Marsha Blackburn’s, R.-Tenn., plan last year to press China to waive debt payments was met with concern from some on Wall Street, including Bridgewater Associates founder Ray Dalio, who said withholding debt payments could spark a capital war.

Nearly 118 million people around the world have become infected with COVID-19 and more than 2.6 million people have died.

In the United States, 29.15 million Americans have been infected with COVID-19, and more than 529,000 Americans have died.

House Republicans last year accused China of ignoring rules requiring governments to report any information of a new SARS-like virus to the WHO within 24 hours.

In 2005, following the SARS outbreak, the WHO had updated the International Health Regulations (IHR), which were first adopted by the Health Assembly in 1969, acknowledging that the organization has “a central and historic responsibility” to manage “the control of the international spread of disease.”

According to Articles 6 and 7 of the revised IHR, members are obligated to provide the organization with all relevant public health information, including lab results, “within 24 hours of assessment … of all events which may constitute a public health emergency of international concern.” The document later cites SARS as an example.

Reports show that the first case of the virus in China came in November 2019, but the first human-to-human transmission of the virus was reported by Wuhan doctors on Dec. 8, 2019 and China failed to inform the WHO of the outbreak until Dec. 31, 2019.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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