Tag: Zambia
Related Posts
China’s Decision to Join Zambian Creditor Committee is Well Received Albeit With Some Skepticism
There was a wide range of reactions to China's decision to become a member of a new Zambian creditors committee that will convene with the aim of restructuring the African country's $17 billion external debt. The initial response from some African ...
For the First Time in a Really Long Time, a Chinese Vaccine Shipment Arrived in Africa
China's newly-arrived ambassador to Zambia, Du Xiaohui, led a handover ceremony this weekend for a shipment of 600,000 COVID-19 vaccines. This is the first large-scale delivery of COVID jabs to Africa from China in a very long following a massive plunge in distributions late last year. ...
WEEK IN REVIEW: Emerging Market Currencies under Pressure due to Ongoing Lockdowns in China
Emerging market currencies and stocks are under mounting pressure this week due to the ongoing lockdowns in China. The South African rand fell again on Tuesday as investors are worried about the impact that a slowing Chinese economy will have on the demand for African raw materials. Those concerns ...
With Access to South Africa’s Main Port Still Hampered, The Rush Is on To Build Alternate Trade Routes for DRC Resources
With road and rail access to South Africa's main port in Durban still blocked by the damage from the past week of record floods, there's a new urgency to develop alternate trade routes for the vast quantities of natural resources that flow from the mining belts in the southern DRC ...
Lockdowns, Floods in South Africa and China Prompt Massive Disruptions to One of the World’s Most Important Trade Routes
Simultaneous disruptions to the largest ports in China and South Africa are threatening to upend one of the world's most important trade routes. The ongoing lockdowns in Shanghai as part of the city's battle against Omicron have led to a major slowdown ...
China ‘Coming on Board’ Zambian Debt Talks: Treasury
Felix Nkulukusa, Zambia’s treasury secretary, confirmed discussions are now underway within the Chinese government about restructuring Zambian debt, as the African country grapples with the aftermath of its November 2020 default. This follows comments last week by Vicky Ford, the UK Minister for Africa, that ...
Financial Mega Firm BlackRock, China Both Blamed For Slowing Zambia’s Debt Restructuring Process
Zambia's burgeoning debt crisis is once again in the spotlight as stakeholders exchange blame over who's responsible for blocking a comprehensive deal to restructure the country's $17.3 billion of external debt. Anti-poverty activists are accusing BlackRock, the $10 trillion asset management ...
Hichilema Promises (Again) Not to Favor Chinese Creditors in Zambian Debt Restructuring
President Hakainde Hichilema restated his longstanding commitment to deal with all of Zambia's creditors equally in a future debt restructuring deal and vowed not to give any preferential treatment to Chinese creditors. “What we don’t intend to do is to cross-subsidize ...
WEEK IN REVIEW: It’s Now Possible to Transport Cargo From Uganda to Kenya’s Port of Mombasa
The long-held dream of transporting goods between Uganda and the Port of Mombasa became a reality on Monday with the inauguration of a new rail line that connects Kenya's Standard Gauge Railway (SGR) with a newly refurbished meter gauge line in Uganda. This is a pared-down version of the ...
Zambia’s Bondholders Want More Info on IMF Deal, Renew Calls For All Creditors to be Treated the Same
Some of Zambia's bondholders are once again expressing impatience with the government's handling of its debt relief talks and they've gone public with their longstanding demands for greater transparency in the process and equal treatment for all creditors. "Inter-creditor equity should ...
Why the Era of Low-Cost Imports From China May be Coming to an End in Africa (At Least For Now)
The ongoing supply chain disruptions are having a profound impact on the types of goods that consumers in Africa and other Global South countries can access. It used to cost just $1,000 per container to ship low-cost socks, shoes, electronics, and other ...
Week in Review: Hostages Rescued in Mali, Rwandan Agribusiness & Nigeria Joins AIIB
Malian security forces on Monday rescued three Chinese nationals kidnapped by unknown assailants after the trio escaped their captors over the weekend. The three construction workers and two colleagues from Mauritania were seized on July 17. While the Mauritanians were freed 10 days later, the Chinese were held ...