A bombshell report in Africa Confidential this reveals that Zambia has borrowed significantly more from Chinese companies than previously reported and now those Chinese creditors are not in much of a mood to negotiate or reschedule those debts.
The situation in Zambia, where debts to China are much larger than what was reported, raise the specter of so-called “hidden debt bombs” across Africa where countries have borrowed vastly more money from the Chinese than anyone was aware, escalating the risk of economic collapse for these countries.
