The French government says that Zambia has reached a deal with China and several other government creditors to restructure $6.3 billion in loans VERBATIM: The African nation defaulted in 2020 when it failed to make a $42.5 million bond payment. Its debt has made it hard for Zambia to develop economically and take on new […]
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Zambia reaches deal with China to restructure $6.3 billion in loans
The French government says that Zambia has reached a deal with China and several other government creditors to restructure $6.3 billion in loans
VERBATIM: The African nation defaulted in 2020 when it failed to make a $42.5 million bond payment. Its debt has made it hard for Zambia to develop economically and take on new projects. Experts have said such prolonged debt crises can send nations sliding deeper into poverty and joblessness by making it harder to get credit to build for the future.