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Tussle Underway Among China, South Africa, and France to Co-Chair Zambia’s Creditor Committee

Stephen Chan is a prominent Africa-China scholar at the University of London's School of Oriental and African Studies.

Sharp elbows are out among countries vying to help lead Zambia’s newly-energized debt restructuring process, following China’s announcement last week that it plans to join a new creditor’s committee.

Soon after Chinese officials announced their intent to join the committee, they indicated that they also wanted to serve as co-chair. Over the weekend, however, South Africa and France announced their bid to jointly co-chair the committee that will convene to restructure Zambia’s $17.3 billion of external debt.

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