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China Sticks to Its Position That Its Not to Blame for Delays in Zambia’s Debt Restructuring Process

Chinese Foreign Ministry Spokesperson Mao Ning on Monday addressed the issue of China's participation in Zambia's debt restructuring process. Image via the Ministry of Foreign Affairs

Any hope China would soften its hardline position on debt restructuring following last weekend’s talks among G20 finance ministers was dashed on Monday when Foreign Ministry Spokesperson Mao Ning restated Beijing’s longstanding demand that multilateral creditors also take losses on their loans to developing countries.

Mao addressed the issue at the regular press briefing in Beijing in response to a question from Bloomberg about Zambia’s stalled debt relief process:

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