Zambia rejects China’s multilateral proposal as debt impasse continues

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In default since 2020, Zambia is struggling to convince China to restructure its share of the debt, which amounts to more than $6bn. While no agreement has been reached, Beijing is calling on multilateral creditors to join the effort, which has not pleased the Zambian presidency.

China, Zambia’s largest creditor, has called on the World Bank and other multilateral lenders to join an effort to restructure the southern African country’s debt, which is valued at more than $13bn.

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