Debt in Africa: Everyone's Watching What China Does in Zambia
The China in Africa Podcast
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The Reluctance of the Chinese to Join the Official Bilateral Creditors Committee
Zambia started the restructuring process back in early 2020 and then indicated towards the end of that year that they would use what is called the G20 common framework to restructure their debts. Since then, China was quite reluctant to join the official bilateral creditors committee. And it took that May 31 phone call from Hakkinder Hisholaymah, the president of Zambia, to the president of China Xi Jinping to convince China at the highest level,. The Chinese agreed to co-chair Zambia'sofficial bilateral creditors committee with France, with South Africa as the vice chair. But it took some time for China to agree to join the committee.
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