China to support Zambia’s debt restructuring efforts

China has pledged to continue collaborating with all stakeholders to facilitate Zambia’s debt restructuring process, according to a spokesperson from the foreign ministry.

While not explicitly endorsing the proposed deal between Zambia and overseas bondholders, China reaffirmed its commitment to advancing debt resolution efforts.

Zambia recently reached a new agreement with a group of overseas bondholders to restructure $3 billion of international bonds, which has received approval from the country’s official creditors, with China being the largest among them.

As a co-chair of the Zambian Debt Committee, China has actively engaged with relevant parties to drive progress in addressing Zambia’s debt challenges.

Source: Reuters