Zambia Expresses Optimism It Can Allay Chinese Concerns Over Debt Deal

Zambian Finance Minister Situmbeko Musokotwane speaking at an event on the sidelines of the Mining Indaba in Cape Town, South Africa on February 7, 2024. Image via Invest Africa.

The Zambian Finance Minister Situmbeko Musokotwane said he’s hopeful his country’s three-year debt restructuring odyssey can finally be resolved sometime before June.

Musokotwane was cautious about providing any specific timetable but said on Wednesday that he’s nonetheless optimistic he can resolve Chinese concerns that private bondholders are receiving better terms in the current restructuring proposal, amid a seeming stalemate in the process.

  • 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
Indonesia Begins $5.9 Billion Chinese EV Battery Project Despite Environment Fears
4
China, U.S. Ink Rare Earth Deal; More Trade Pacts Coming
5
Chinese Cargo Planes Secretly Ferrying Supplies to Iran, Claim Online Sleuths
6
Six Million Donkeys Slaughtered for Chinese Medicine: Charity

You Might Like

Contrary to Popular Perception, Zambia’s Debt Problem is With Global Capital Markets Not China

Although China is by far Zambia’s largest bilateral creditor, the total amount owed to Beijing is less than what Lusaka has to pay to Eurobond holders and various other private creditors. The outlook ...

It’s Make or Break Time in Zambia as the Government, Bondholders, and China All Face-Off

A dramatic showdown is taking place in Zambia. Bondholders, Chinese creditors, and the government are all involved, and the fate of the country’s financial stability is at stake. A crucial ...

Zambian Bondholders Expected to Reject Government’s Request for Repayment Delay

A group of Zambian bondholders is scheduled to meet on Tuesday and is widely expected to vote against the government’s request for a six-month repayment holiday on $3 billion of Eurobonds. If that ...

Reuters: Bondholders to Reject Zambia’s Request for Debt Repayment Delay

A source close to the Zambia External Bondholder Committee, a coalition that holds the bulk of Zambia’s $3 billion of Eurobonds, told Reuters that investors plan to vote against the government’s request for a ...

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