By SIMON MUNTEMBATHE total public sector debt to Chinese creditors as at end June 2021 is US$ 6.18 billion, Finance minister Situmbeko Musokotwane has said.Dr Musokotwane said Chinese creditors were owed US$5.95 billion and interest arrears which amounted to US$225.5 million at the end of the second quarter.He told Parliament in a ministerial statement yesterday that US$4.47 billion was owed by central government to Chinese creditors while US$1.34 billion is owed by state owned enterprises, mainly Zesco, on facilities guaranteed by the central government.Dr Musokotwane said the balance of US$139.60 million is owed by Zesco on Chinese facilities that are not guaranteed by the central government.“This debt position towards China that I have presented includes only amounts that have been drawn and are outstanding plus principal arrears, but does not include interest arrears which amounted to us $225.5 million at the end of the second quarter,” he said.And Dr Musokotwane clarified that the Zambia’s external debt stood at US$14.67 billion, as recorded the end of the first […]
CHINESE DEBT STANDS AT $ 6.18 BILLION – MINISTER
