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China Exim Bank Defers Zambian Loan While Lusaka and Bondholders Go At Each Other Following Debt Default

by Eric Olander

The Zambian finance ministry announced that it has reached a deal with the China Exim Bank to defer the repayment of loans totaling $110 million that were scheduled to come due through the end of 2021.

The deal was concluded within the framework of the G20’s Debt Service Suspension Initiative and includes both interest and principal payments. It also marks the second time in less than a month that the government has restructured debts with China’s policy banks. In October, the China Development Bank agreed to a six-month deferral of a single loan of undetermined size.

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