A Primer on China's Role in the Worsening Zambian Debt Crisis

Zambia's debt restructuring deal that was hailed earlier this year as a "landmark" breakthrough for developing countries is now in shambles. Talks broke down a couple of weeks ago when bilateral creditors led by China and France objected to the terms that bondholders were negotiating with Lusaka on the grounds that private creditors were getting more out of the deal. Now, three years into this process, Zambia is once again stuck in limbo as rival creditors feud over who will get paid first and how much. Rachel Savage, Africa senior markets correspondent at Reuters, has been covering the story on a near-daily basis and joins Eric & Geraud to explain why the deal collapsed and what happens next. JOIN THE DISCUSSION: X: @ChinaGSProject| @christiangeraud | @eric_olander | @rachelmsavage Facebook: www.facebook.com/ChinaAfricaProject YouTube: www.youtube.com/@ChinaGlobalSouth FOLLOW CAP IN FRENCH AND ARABIC: Français: www.projetafriquechine.com | @AfrikChine عربي: www.akhbaralsin-africia.com | @AkhbarAlSinAfr JOIN US ON PATREON! Become a CAP Patreon member and get all sorts of cool stuff, including our Week in Review report, an invitation to join monthly Zoom calls with Eric & Cobus, and even an awesome new CAP Podcast mug! www.patreon.com/chinaglobalsouth See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.