One Creditor Is Delaying Zambia’s Debt Revamp, U.K. Says
- Zambia is seeking to rework as much as $17.3 billion of debt
- Chinese lenders account for nearly a third of external debt
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Zambia’s reorganization of as much as $17.3 billion of external debt is being delayed by a single foreign creditor, according to U.K. Minister for Africa Vicky Ford.
“We’ve got one creditor that seems to be -- one international creditor -- that seems to be taking a bit more time to make a decision,” Ford, who is visiting Zambia, said in comments broadcast on Hot FM radio Thursday in the capital, Lusaka. “I discussed that with the foreign minister as well last night, and I know that he has been working incredibly hard to try and speed up that process.”