Zambia, China discuss debt restructuring measures

Filed under: Breaking News,Business |

Lungu with Chinese Ambassador to Zambia Mr Li Jie

President Lungu has also confirmed the development in a statement below after meeting the Chinese Ambassador to Zambia.

I met the Chinese Ambassador to Zambia Mr Li Jie and discussed a broad range of bilateral cooperation mainly focusing on economic cooperation between our two countries.

Ambassador Li assured me of China’s continued cooperation and support in various areas of national development including the debt restructuring measures announced by the Minister of Finance, Margaret Mwanakatwe last month.

I informed the Chinese Ambassador that #Zambia will proactively engage #China at every stage of the implementation of the Debt Restructuring Programme to avoid disruption in the financing for project implementation and overall contractual obligations.

I also appealed to the Chinese Ambassador to inform all relevant Chinese authorities, financiers and companies that there will be no disruption in the ongoing projects because there was a careful approach to guide the implementation of the measures announced by the Minister of Finance.

Furthermore, I have assigned the Ministers of Finance, Foreign Affairs, Housing and Infrastructure, and National Development Planning to travel to China in the coming days to hold strategic consultations with Chinese authorities, financing institutions and Chinese companies doing business in Zambia to discuss the Debt Restructuring Programme.

Let me thank the Chinese Ambassador for the strong support China has provided to Zambia. I encourage him to work towards even greater bilateral cooperation in all areas of mutual interest between our two countries. 


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