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Zambian officials held debt talks with Chinese banks last week

Zambian officials held debt talks with Chinese banks last week

ZAMBIAN officials went to China last week to discuss debt restructuring with representatives of the Export-Import Bank (EXIM) of China and some Chinese commercial banks, the secretary to Zambia's Treasury said. Felix Nkulukusa said Zambia was on course to reach a new agreement after its official creditors, including China EXIM, rejected a preliminary restructuring deal for its Eurobonds in November. Zambia defaulted on its sovereign debt in 2020 and its debt restructuring under the G20's Common Framework process has been beset by delays. Under the framework, debtor countries are meant to agree on comparable restructuring deals with official and commercial…
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