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China ‘Coming on Board’ Zambian Debt Talks: Treasury

by Cobus van Staden
Rachel Savage is Reuters' Africa Senior Markets Correspondent based in Johannesburg.

Felix Nkulukusa, Zambia’s treasury secretary, confirmed discussions are now underway within the Chinese government about restructuring Zambian debt, as the African country grapples with the aftermath of its November 2020 default.

This follows comments last week by Vicky Ford, the UK Minister for Africa, that vaguely implied China may, in fact, be holding up the process: “We’ve got one creditor that seems to be — one international creditor — that seems to be taking a bit more time to make a decision.”

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