Tag: Zambia debt talks

The head of the International Monetary Fund, Kristalina Georgieva, expressed renewed confidence that China, together with Zambia's other major creditors, is close to finalizing a debt deal that will clear the way for a $1.3 billion IMF emergency financial package.

Bloomberg reports that Zambia’s official creditor committee, which is co-led by China, has reportedly made progress in meetings this week, which will lead to them reconvening for a follow-up session next month. The next meeting could see them signing a memorandum ...

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 ...

The outgoing president of the World Bank, David Malpass, again expressed his concern about the opacity of China's lending practices to developing countries. He told the BBC that Beijing needs to be "more transparent." Malpass's comments are the latest in a ...

U.S. Vice President landed in Zambia on Wednesday for the second leg of a three-nation, week-long Africa tour.  During her first stop in Ghana, the Vice President assiduously tried to avoid any reference to China despite persistent questions from the traveling ...

A senior official with the People's Bank of China, the country's central, provided new insights as to why Beijing is demanding that multilateral development banks (MDBs) also take losses on their loans to developing countries -- a key sticking point that has brought debt restructuring processes in several ...

Zambia’s debt renegotiation is being delayed by barriers within China’s banking system and by Western pressure. So says Professor Tang Xiaoyang, a prominent expert on Chinese overseas development finance and the director of the Department of International Relations at Tsinghua University, in an interesting interview with the ...

Just ten years ago, it usually took less than two months for a debt-distressed country to get a sign-off from the International Monetary Fund for emergency financial relief, but that is no longer the case, according to new data compiled by Reuters.

Chinese Premier Li Keqiang told the head of the International Monetary Fund that China is open to participating “in a constructive manner” with debt restructuring efforts. During a call with IMF Managing Director Kristalina Georgieva, Li said: “China is willing to take ...

Any hope China would soften its hardline position on debt restructuring following last weekend's talks among G20 finance ministers was dashed on Monday when Foreign Ministry Spokesperson Mao Ning restated Beijing's longstanding demand that multilateral creditors also take losses on their loans to developing countries. ...

Chinese scholars and U.S. and European officials seem to follow the same playbook on debt. Both sides are highly selective in their assessment of the worsening debt crisis in developing countries by focusing disproportionate attention on opponents' role while conveniently overlooking their own contribution to the problem. ...

Ghanaian Finance Minister Ken Ofori Atta will head to Beijing on Friday in a bid to re-negotiate Accra's $1.7 billion debt owed to Chinese creditors. The West African country has already defaulted on some of its commercial debt ...