Tag: Zambia debt talks

We’ve covered Chinese lending to the Global South through the boom days of the BRI and the current debt busts cratering Zambia, Sri Lanka and other economies. One of the things we’ve learned is that China plays a weird dual role in the global development finance landscape. ...

The Chinese government re-stated on Wednesday that it will not move forward with the Sri Lankan debt restructuring process unless both commercial creditors and multilateral development banks also agree to accept losses on their loans. Ministry officials told Reuters that Spokesperson ...

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 ...

The Chinese government provided its first official confirmation that it will provide Sri Lanka with a two-year debt repayment moratorium on $2.83 billion of loans owed to The China Exim Bank. Foreign Ministry spokesperson Mao Ning's statement on Friday was intended, in part, ...

A major philosophical difference is emerging as a hold-up to Zambia’s much-needed debt relief. Foreign Ministry spokesperson Mao Ning recently said the key to easing Zambia’s debt burden “lies in the participation of multilateral financial institutions and commercial creditors in the debt-relief efforts.” ...

Chinese Foreign Ministry spokesperson Mao Ning pushed back against recent allegations by senior Western officials that China is holding back debt restructuring in Zambia. Citing recent statistics from the Zambian government, Mao pointed out that Zambia’s debt burden is predominantly Western, with 24% to (Western-led) multilateral institutions and 46% to (mostly ...

The International Monetary Fund’s head of strategy, Ceyla Pazarbasioglu, will travel to Beijing next week for meetings with Chinese officials as part of a push for progress on Zambia’s debt restructuring.  This comes as Zambia's Finance Minister Situmbeko Musokotwane 

Now that Zambia's Creditor Committee reached a landmark debt restructuring deal with its bilateral lenders, there's new optimism that the same will happen in Sri Lanka. The South Asian island state is ...

The first meeting of the Zambia Creditor Committee, co-chaired by China and France, will convene on Thursday in Paris. IMF officials indicated on Wednesday that if everything proceeds smoothly with restructuring the country's $17.3 billion external debt, a bail-out deal with the fund could be reached by early ...

After months of delays, all of Zambia's international creditors will finally convene on Thursday to work out the details of how to restructure the country's $17.3 billion of external debt. The inaugural meeting of the official Creditor's Committee, co-chaired by China and France, will ...

How China acts in the Zambian debt restructuring process will no doubt be closely watched in Laos. This is because of rising fears that the Southeast Asian country could be the next to fall into debt distress.  Laotian public debt now stands at $14.5 ...

A flurry of high-level Chinese diplomacy is underway in Africa in the run-up to next week's Horn of Africa conference that Beijing is co-hosting with the Ethiopian government. On Sunday, Wang Di, China's top diplomat for the Middle East and North ...