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.

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More
by Eric Olander

Most Read

1
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
2 Chinese Military Fans Discuss Why Indonesia Bought Rafale Instead of J-10C
3
Chinese Cargo Planes Secretly Ferrying Supplies to Iran, Claim Online Sleuths
4
Indonesia Goes Nuclear, Taps China and Russia for Modular Reactors
5 Trump’s Contradictory Iran Strategy Leaves U.S. Weaker After War’s End, Says Chinese Commentator
6
Thailand in Last-Minute U.S. Talks as 36% Tariff Looms

You Might Like

China’s Decision to Join Zambian Creditor Committee is Well Received Albeit With Some Skepticism

There was a wide range of reactions to China’s decision to become a member of a new Zambian creditors committee that will convene with the aim of restructuring the African country’s $17 billion ...

University of Cape Town Professor Says Africans Need to Understand Why China Values Ties With the Continent

Professor Carlos Lopes from the University of Cape Town is challenging the widely-held perception that Africa is very important to China’s broader global economic agenda. Well, they’re wrong, he said ...

China ‘Coming on Board’ Zambian Debt Talks: Treasury

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 ...

World Bank Chief Calls for New Debt Resolution Tools, Blames China for Debt Crises

David Malpass, the president of the World Bank, again singled out China in calling for new debt restructuring mechanisms to help the developing world. Malpass and the International Monetary Fund’s managing director Kristalina ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

More about CGSP