Zambia’s Chinese Debt in the Pandemic Era

Images: Flickr, Lintao Zhang
Images: Flickr, Lintao Zhang

In November 2020, Zambia became the first African country to default on its Eurobonds during the COVID-19 pandemic, bringing the country’s debt distress into headlines around the world.

In November 2020, Zambia became the first African country to
default on its Eurobonds during the COVID-19 pandemic, bringing the
country’s debt distress into headlines around the world. Bondholders’
refusal to provide debt suspension rested largely on fears that Zambia was
not disclosing significant liabilities to Chinese creditors.

1 Jan 2021