A peaceful transfer of power took place in Lusaka on Tuesday when opposition leader Hakainde Hichilema (photo) became Zambia’s seventh president in the post-colonial era. President Hichilema made clear right from the start that the economy, specifically reducing the country’s heavy debt load, will be his government’s top priority.
“Over the last decade…, the debt situation has become unsustainable,” the president told the crowd during his inaugural address. “We will pay special attention to lowering the fiscal deficit, reducing public debt, and restoring market confidence in our country.”
- 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.
