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Forget About Everything Else, Hichilema’s in China to Resolve Zambia’s Still Unfinished Debt Restructuring Deal

Debt issues are widely-seen as the top priority for Zambian President Haikinde Hichilema during his week-long tour of China. Image via @HHichilema.

Zambian President Haikinde Hichilema is spending much of this week visiting Chinese business hubs in Shenzhen and Shanghai, but the real focus of this trip will be dealt with later in Beijing, where he will tackle the sensitive issue of debt.

Last June, Zambia reached a deal with its bilateral creditors to restructure nearly $13 billion of external debt, half to a consortium of Chinese creditors. A lot of people mistakenly thought that the deal was largely done but that’s not the case, say experts, who contend a lot of details still need to be negotiated.

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