Country: Zambia
Related Posts
China Responds to Accusations That It’s Not Doing Enough To Help Resolve Zambia’s Escalating Debt Crisis
The Chinese government is responding to critics who charge that Beijing is not doing enough to resolve the rapidly escalating debt crisis in Africa, especially in Zambia. “We have signed debt-relief agreements with the majority of countries that have requested it, and are holding consultations with the remaining ...
“China Needs to Increase Transparency,” says Ministry of Commerce Researcher
China's Ministry of Commerce (MOFCOM) blamed heightened nationalism, protectionism and populism among U.S. and European governments for the growing lack of trust among Africa's international creditors. "While China is actively promoting the implementation of the G20 "debt relief initiative," Western countries ...
Africans Borrowed Heavily From China and Other Bilateral Creditors. Now That Debt is Getting Away From Them
Former U.S. Treasury official and current Senior Fellow at the Council on Foreign Relations, Brad Setser, is providing some of the sharpest, most insightful commentaries on the worsening debt crisis in Africa and how both China and the DSSI are contributing to the problem. ...
Why the “Professional Pessimists” Are Wrong About Africa’s Economic Future
Africa's economic landscape today looks bleak. Debt levels, unemployment rates and bankruptcies are all on the rise across much of the continent. And it doesn't look like there's going to be much help from the international community to weather the worst ...
The China Development Bank’s Debt Deferral in Zambia is a Good Start, But It’s Not Enough
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 ...
Zambia Reaches Debt Deferral Agreement With China Development Bank
Zambia's Secretary to the Treasury Fredson K. Yamba announced that his office has reached a debt restructuring agreement with the China Development Bank on one of its loans. It's important to note that the statement explicitly mentions a single loan and does not refer to CDB's broader loan portfolio ...
18 Days and Counting Until Zambia’s D-Day (aka Debt Day)
In less than three weeks, a group of Zambian bondholders, mostly in New York and London, will reconvene to vote on whether or not to approve Lusaka's request for a six-month repayment holiday on about $3 billion of Eurobond notes that are coming due. ...
Zambia Stands to Benefit From Rising Copper Prices Due to Heightened Chinese Demand
While Zambia tries to figure out how if/how it plans to restructure its $12 billion debt portfolio, government coffers stand to benefit from resurgent copper prices, a major source of export earnings. The price of copper recently ...
Analyst: Zambia Owes More Than Double the $12 Billion to China and Other External Creditors
Zambia owes $27 billion to external creditors rather than the $12 billion figure that is widely circulated in the media, according to Brad Setser's reading of World Bank data on external debt. Setser, a senior fellow at the Council on Foreign Relations in New York, explained in ...
With a Golden Boot on Her Foot, Barbara Banda Returns Home From China as a Star
20-year old Women's Chinese League sensation Barbara Banda returned home to Zambia last week where she was greeted as a genuine star after winning the Golden Boot, the league's most valuable player award. Banda trained with the Lusaka Dynamos Ladies FC as ...
Bloomberg Asks Zhao Lijian the $4 Billion Dollar Question About Its Zambian Loans: “Will China Opens Its Books?”
Foreign Ministry spokesman Zhao Lijian faced questions yesterday by a Bloomberg reporter as to whether Beijing would do more to help alleviate investor concerns over the lack of transparency of China's loans to Zambia. Zhao echoed a brief comment published on ...
Zambia Gets an Unexpected Reprieve From Bondholders, But Serious Concerns About the Country’s Debts to China Persist
Zambia's private creditors gave the embattled country an additional three weeks to come up with a plan on how to resolve its burgeoning debt crisis. A group of bondholders would have voted yesterday on whether to accept the finance ministry's request for a 6-month repayment ...