Home » President Lungu

President Lungu

Zambia asks China to cancel its debt

File Photo Zambian President Edgar Lungu has asked Chinese President Xi Jinping for some “debt relief and cancellation” in a telephone conversation between the two leaders. That is according to a statement issued by Lusaka after the chat that reportedly took place on Monday. “President Lungu called for debt relief and cancellation in light of reduced revenue due to the negative impact of the pandemic, as well as competing needs for the country to secure adequate resources to fight the pandemic and to stimulate the economy,” said a statement issued by Spokesman Isaac Chipampe. Zambia’s public debt has increased significantly in recent years although it’s unclear exactly how much is actually owed to China. The two leaders agreed to continue working closely together to safeguard common intere...