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The China Development Bank’s Debt Deferral in Zambia is a Good Start, But It’s Not Enough

Photo via China Daily.

The China Development Bank’s (CDB) announcement yesterday that it will allow Zambia to push back an interest payment that was due last Sunday to next April was an unexpected development.

After all, we haven’t seen China’s powerful policy banks publicly demonstrate this kind of flexibility in their dealings with African borrowers. So, we should commend this development in the hope that it’ll encourage them to be even more forthcoming in the future.

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