By BUUMBA CHIMBULUZAMBIA has been granted a Debt Service Suspension Initiative (DSSI) by the Chinese Government for all Government to Government (G2G) and all Concessional facilities as per the G20 guidelines of one-year grace period and three years repayment.The maximum amount of 2020 debt service suspended and rescheduled would be US$225.3 million (debt service on Chinese entities from May to December).Government external debt service on Chinese loans amounts to approximately US$426.3 million in 2020 and US$428 million in 2021.Main Chinese creditors include the Export Import Bank of China, China Development Bank, the Industrial and Commercial Bank of China and a few other commercial entities including the Bank of China.This is contained in a document prepared by the Ministry of Finance with the assistance of financial advisor Lazard frères.This is in response from investors relating to the presentation Government made to creditors on September 29, this year.The document has been posted on the London Stock Exchange.According […]
China gives Zambia debt relief
