With U.S.-South Africa ties in the deep freeze, it was notable to see the sheer size of the U.S. delegation sent to this week’s Mining Indaba in Cape Town – one of the most prominent industry gatherings and one of the few where the Global South gets a prominent voice.
The Trump administration’s famous Afrophobia seems (momentarily at least) tempered by its greed for minerals. It is reportedly walking ...
Tag: Finance Minister Situmbeko Musokotwane
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Zambia’s Finance Minister Acknowledged His Country Borrowed Too Much From China
Zambian Finance Minister Situmbeko Musokotwane said the quiet part out loud when he acknowledged that previous administrations borrowed too much money from China. “The level of debt that Zambia acquired from China was way, way too high,” he told the Wall ...
Zambia Expresses Optimism It Can Allay Chinese Concerns Over Debt Deal
The Zambian Finance Minister Situmbeko Musokotwane said he's hopeful his country's three-year debt restructuring odyssey can finally be resolved sometime before June. Musokotwane was cautious about providing any specific timetable but said on Wednesday that he's nonetheless optimistic he can resolve Chinese concerns ...
The Implosion of Zambia’s Debt Deal Signals Wider Worries
Delays in restructuring Zambian debt are weighing on the country’s economy and raise wider questions about the future of debt relief mechanisms around the world. Zambia appears stuck since the announcement last Monday that its committee of official creditors rejected a deal between ...
Lots of Talk, Little Action: Zambia’s Debt Relief Process Remains Stalled Says Finance Minister
Zambia's Finance Minister Situmbeko Musokotwane said it's urgent that the country's international creditors finalize a debt restructuring deal at once, or else a $188 million IMF emergency financial package could be at risk. Musokotwane expressed frustration in an interview with ...
IMF, World Bank Losing Patience With China Over Debt Relief Standoff
China's ongoing stand-off with multilateral lenders over debt relief terms for developing countries will be a prominent issue at International Monetary Fund and World Bank's annual week-long gathering known as the Spring Meetings that get underway on Monday in Washington, D.C. ...
Analysis from Cobus van Staden
FT Reporting Error Sparks Widespread Confusion Over Zambia’s Views on China’s Role in Debt Restructuring Process
Botched reporting in a Financial Times article on Zambian debt made clear how nervous China’s push for the World Bank and other multilateral financers to accept losses as part of debt restructuring is making international stakeholders. In its corrected form, the report quotes ...
Zambia Wants Debt Reduction As Part of Renegotiation: Hichilema
Zambian President Hakainde Hichilema is optimistic that Zambia’s debt renegotiation is now on track, following the recent announcement that China and France will head the creditors’ committee. The committee's first meeting will be next week. Speaking at a mining conference in Cape Town,