Zambia's Debt Woes Shifts to China as Eurobond Deal Struck
By
Nadirah Zhang
1 min read
⚠️ Heads up: this article is from our "experimental era" — a beautiful mess of enthusiasm ✨, caffeine ☕, and user-submitted chaos 🤹. We kept it because it’s part of our journey 🛤️ (and hey, everyone has awkward teenage years 😅).
After a three-plus-year grind to avert default, Zambia's focus has now turned to its $3.5 billion commercial debt, with a significant portion owed to Chinese lenders. This shift comes after the country finally sealed a deal with eurobond holders. Notably, among the outstanding loans are $1.9 billion from state-owned creditors in China, including Industrial & Commercial Bank of China Ltd. and China Development Bank. According to a source, the engagement with some of the Chinese creditors has shown positive progress.