Monday, October 12, 2020

Will China Save Zambia from Debt Default?

 SupChina posted on 9 October 2020 a commentary titled "China Must Save Zambia from Imminent Default. No One Else Can" by Simon Wolfe, international lawyer at Marlow Strategy.

China accounts for 65.8 percent of Zambia's $18.5 billion external debt.  Euro bondholders have refused to accept new repayment terms until China indicates what it plans to do.  The International Monetary Fund continues to withhold assistance.  Zambia is on the verge of default and China holds most of the cards.   

No comments:

Post a Comment