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Zambia’s Finance Minister Acknowledged His Country Borrowed Too Much From China

File image of Zambian Finance Minister Situmbeko Musokotwane. Image via Zambia's Ministry of Finance.

Zambian Finance Minister Situmbeko Musokotwane said the quiet part out loud when he acknowledged that previous administrations borrowed too much money from China.

“The level of debt that Zambia acquired from China was way, way too high,” he told the Wall Street Journal last week in response to a question about the difficulties Zambia faced in restructuring its debts over the past three years.

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