Relief for Zambia as China joins its debt resolution mechanism

Zambian President Hakainde Hichilema.

Zambian President Hakainde Hichilema. PHOTO | FILE | AFP

Zambia’s push for a resolution to the debilitating debt crisis received a major lift after China committed to join a creditor committee as part of international efforts to restructure Lusaka’s debt.

China, which is the southern African country’s largest creditor, made the commitment to join the Common Framework at the recent International Monetary Fund (IMF) meeting after long drawn out negotiations with President Hakainde Hichilema’s administration.