Zambia’s debt renegotiation is being delayed by barriers within China’s banking system and by Western pressure. So says Professor Tang Xiaoyang, a prominent expert on Chinese overseas development finance and the director of the Department of International Relations at Tsinghua University, in an interesting interview with the hawkish magazine Guancha (The Observer).
Tang said that Zambia’s debt renegotiation is proceeding, but that pressure from Western powers for a quick solution based on Paris Club conventions and to shield Western private investors is causing problems.
