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U.S. Treasury Secretary Blames China for Delays in Zambia Debt Restructuring

United States Secretary of Treasury Janet Yellen (center) is welcomed by Zambian president Hakainde Hichilema (right) during her visit to Zambia at the State House in Lusaka on January 23, 2023. SALIM DAWOOD / AFP

U.S. Treasury Secretary Janet Yellen accused China of blocking progress for Zambia’s drawn-out debt restructuring process that is now entering its second year.

“I know the Chinese have been a barrier to concluding the negotiations,” she said in Lusaka on Monday, the second stop of a 10-day Africa tour that began in Senegal and will end in South Africa.

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