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Whereas Zambia’s $5.8 billion of excellent money owed to Chinese language collectors is certainly some huge cash, getting absolutely repaid might not be the first concern for policymakers in Beijing, stated Reuters Breakingviews columnist Ed Cropley in his newest opinion video:
“The precedent might be a far larger fear to Beijing. It’s now on the hook for $100 billion of debt to poor international locations, a twenty-fold enhance during the last 15 years. Give Zambia an excessive amount of leeway and different closely indebted international locations like Sri Lanka or Ethiopia or Angola will demand the identical.
By way of international significance, Zambia is immediately punching properly above its weight.”
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