China has urged the International Monetary Fund to approve a US$1.4 billion bailout for Zambia but the fund responded by telling Beijing and other official creditors they must first agree a relief package.
Lusaka is seeking a bailout from the IMF and is also in the process of restructuring about US$17.3 billion of external debts, including from its largest bilateral lender – China.
In November 2020, it became the first African country to default on some of its dollar-denominated bonds during…
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