Zambian President Hakainde Hichilema and China’s ambassador to Zambia, Du Xiaohui, on May 12. Zambia said it had notified Chinese lenders and contractors about plans to cancel undisbursed loan balances for 14 projects. Photo: Xinhua
Zambian President Hakainde Hichilema and China’s ambassador to Zambia, Du Xiaohui, on May 12. Zambia said it had notified Chinese lenders and contractors about plans to cancel undisbursed loan balances for 14 projects. Photo: Xinhua

Zambia cancels US$1.6 billion Chinese loans and halts infrastructure projects in move to avoid debt crisis

  • Loans are agreed on but not yet distributed and form part of the US$2 billion in undisbursed lending cancelled by Lusaka
  • Bilateral lenders also agreed to give debt relief, showing the ‘potential of the G20 Common Framework for debt treatment’, says IMF

Zambian President Hakainde Hichilema and China’s ambassador to Zambia, Du Xiaohui, on May 12. Zambia said it had notified Chinese lenders and contractors about plans to cancel undisbursed loan balances for 14 projects. Photo: Xinhua
Zambian President Hakainde Hichilema and China’s ambassador to Zambia, Du Xiaohui, on May 12. Zambia said it had notified Chinese lenders and contractors about plans to cancel undisbursed loan balances for 14 projects. Photo: Xinhua
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