The Diplomat published on 8 September 2022 a commentary titled "Zambia's New IMF Deal Shifts China to the Backseat" by Jade Scarfe, Development Reimagined.
China holds about 30 percent of Zambia's high external debt. Zambia has negotiated a zero-interest loan of $1.3 billion with a grace period of 5 and one half years and a maturity of 10 years from the IMF. As a result, Zambia will shift spending priorities from public infrastructure, traditionally funded by China, to recurrent expenditures and cancel 12 planned projects, half of which were to be funded by China.
