Country: Zambia
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China Finally Commits To “Equal Treatment” for All Zambian Creditors. But Why Did It Take Them So Long to Say So?
China's top diplomat for sub-Saharan Africa, Wu Peng, took to his new Twitter account at 8pm local time yesterday in Beijing, to reassure investors and other Zambian stakeholders that the Chinese government supports the principle of "equal treatment" for all creditors. ...
China’s Bumbling Debt Communications Hurts Africa
Even though China is a central actor in the burgeoning African debt crisis, it's often hard to tell. Chinese stakeholders in this unfolding drama are notoriously silent when it comes to communicating their positions and signaling to the markets and other governments as to what their intentions ...
Laos and the Chinese Debt Crisis in Africa
The small, impoverished landlocked Southeast Asian nation of Laos is a focal point of China's ambitious Belt and Road Initiative and also emerging a case study in how Beijing is handling a burgeoning debt crisis in the country. ...
Zambian Bondholders Expected to Reject Government’s Request for Repayment Delay
A group of Zambian bondholders is scheduled to meet on Tuesday and is widely expected to vote against the government's request for a six-month repayment holiday on $3 billion of Eurobonds. If that is in fact what happens, then it would likely prompt the government to default ...
It’s Make or Break Time in Zambia as the Government, Bondholders, and China All Face-Off
A dramatic showdown is taking place in Zambia. Bondholders, Chinese creditors, and the government are all involved, and the fate of the country's financial stability is at stake. A crucial vote is scheduled to take place tomorrow that will likely determine if Zambia will become ...
FT Editorial: Transparency Is the Key to Solving the Zambian Debt Crisis
The Financial Times newspaper published a sharply worded editorial this weekend that called on Chinese creditors and Zambian borrowers to be more transparent in their dealings with one another in order to avoid what looks increasingly like an imminent default on some of the southern Africa's country's ...
Venezuela and the Chinese Debt Crisis in Africa
Even before the current economic crisis brought on by the COVID-19 pandemic there were widespread concerns about Chinese lending practices in Africa. The U.S. and other critics contend that Beijing is employing a predatory lending strategy where it intentionally loads up ...
China Is Now a Key Player in Zambia’s Worsening Debt Crisis
We'll know next week if Zambia is going to be the first African country this year to default on part of its debt, or if it'll get the repayment reprieve it's been asking for. It's clear that the country's financial fate now largely rests with China.
African Women Shine in the Chinese Super League
For the second year in a row, the Women's Chinese Super League (WCSL), China's professional soccer league, awarded its top prize to an African player. 20-year old Zambian forward Barbara Banda took home the Golden Boot this week thanks to an impressive 18-goal season with ...
Zambia’s Debt Demand Shows Limits of China’s Checkbook Diplomacy
Zambia’s request for blanket debt-service suspension from creditors edges the country closer to default and highlights the limitations of China’s debt diplomacy. The government has decided to ask all external creditors to agree to debt service suspension on the same terms, ...
With or Without Debt Relief, Most Chinese Contractors in Africa Still Benefit
China has come under intense criticism from stakeholders in Africa, the U.S. and Europe for its refusal to enact an across-the-board debt relief plan for African borrowers. Instead, Beijing has opted to negotiate bilaterally and reach debt settlement agreements separately. Marketwatch ...
Bondholders Reject Zambia’s Request to Delay Repayments Due to Concerns Over How Much Government Owes China
Zambia's burgeoning debt crisis got a whole lot worse on Friday after a committee representing bondholders rejected the government's request for a six-month repayment holiday on about $3 billion of Eurobond notes. The committee represents 14 international financial ...