Monday, October 15, 2018

Is China To Blame for Zambia's Debt?

Aljazeera published on 11 October 2018 an article titled "Is China Really To Blame for Zambia's Debt Problems?" by Vito Laterza and Patience Mususa.

Zambia has a staggering $9.4 billion in external debt. China is estimated to hold between a quarter and a third of this debt, making it a major contributor to the problem. The authors argue, however, that the real story is the IMF and its Western allies are scared of losing their grip on Zambia and other African countries, threatened by the parallel economic system that China has created.