Zambia Reaches Debt Deals With China

Zambia signed bilateral agreements with Chinese creditors, including the Export–Import Bank of China, to restructure part of its $4 billion debt. Finance Minister Situmbeko Musokotwane said the deals mark a key step in managing obligations after Zambia became the first African country to default on Eurobonds during the COVID-19 pandemic. Analysts note that the agreements aim to ease debt service pressure, stabilize Zambia’s finances, and support economic recovery, though China maintains confidentiality on loan terms.