久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
World
Home / World / China-Africa

China Development Bank defers Zambia's debt service, says official

By Tonderayi Mukeredzi | chinadaily.com.cn | Updated: 2020-10-30 14:18
Share
Share - WeChat
A China Development Bank sign is seen in Beijing. [Photo/Sipa]

Zambian government and China Development Bank (CDB) have agreed on a short-term debt deferment service for a commercial loan facility insured by China Export and Credit Insurance Corporation (SINOSURE).

Fredson Yamba, secretary to Treasury, said under the terms of the agreement with CDB, interest and principal for the loan due on Oct 25, 2020, has been deferred to next year.

"The deferred interest payment is now payable on April 25, 2021 and the deferred principal rescheduled over the life of the facility," he said in a statement on Oct 28.

Yamba said the agreement with CDB was an important milestone for Zambia in its debt relief efforts, adding that such interim debt service deferment agreements will provide his country with the time to focus efforts on completing its overall debt strategy aimed at restoring public debt sustainability.

He stated that Zambia will continue to work with all of its creditors to reach similar interim agreements around deferral of principal and interest payments.

Zambia is experiencing considerable economic and liquidity difficulties compounded by the impact of the COVID-19 pandemic which have prompted the southern African nation to implement a liability management exercise aimed at restoring debt sustainability.

As part of the process, the country is engaging its creditors to seek their approval for debt service suspension agreements for a period of six months in accordance with the G20 Debt Service Suspension Initiative, or DSSI.

The DSSI is a coordinated approach by G20 and Paris Club creditors which provides for the suspension of debt service for six months for poor countries that request forbearance, meant to support the countries in overcoming intertwined health and economic effects of the COVID-19 pandemic.

"The government has sought the consent of the holders of Zambia's outstanding Eurobonds to a standstill on debt service for a period of six months until April 2021 while it finalises its Debt Sustainability Analysis (DSA) and seeks to put the country's debt on a sustainable trajectory.

"In view of the urgency of the current situation, the government has determined to ask all its external creditors to agree to debt service suspension on the same terms. The only foreign currency denominated debt that Zambia will continue to pay on a current basis is debt from multilateral agencies and debt for a few priority projects that have an immediate economic and social impact," Yamba said recently in an update.

Bwalya Ng'andu, minister of Finance, told parliament on Oct 16 that government's stock of external debt stood at about $11.8 billion as at the end of June. The figure however rises to $13.55 billion when guaranteed debt for state enterprises is added. The country's total national debt (government, state enterprises and private sector external debt) is estimated at $27.34 billion.

While Zambia has managed to obtain some relief under the DSSI window, particularly from official creditors, Ng'andu said engagements with commercial creditors have not yet yielded the expected results as the creditors felt that the country was not treating all creditors equally.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 国产三级做爰在线观看 | 国产区精品在线 | 香蕉超级碰碰碰97视频蜜芽 | 亚洲国产成人久久综合碰 | 久久综合网址 | 日韩免费在线视频 | 国产嫩草影院在线观看 | 能直接看的一级欧美毛片 | 久久综合婷婷香五月 | 日韩国产在线 | 成人免费网址在线 | 在线观看91精品国产入口 | 亚洲精品久久久久久久777 | 欧美一级毛片在线一看 | 一区二区日韩 | 久久综合久久美利坚合众国 | 日韩欧美一级a毛片欧美一级 | 欧美成人观看视频在线 | 手机在线观看一级午夜片 | 欧美大片一级毛片 | 国产成人精品曰本亚洲 | 九草视频在线观看 | 精品午夜一区二区三区在线观看 | 欧美成人吃奶高清视频 | 国产成人 免费观看 | 经典香港a毛片免费观看 | 怡红院亚洲红怡院天堂麻豆 | 无码孕妇孕交在线观看 | 国产一区二区三区四区五区 | 美女被免费网站在线视频软件 | 九九在线免费观看视频 | 国产成人亚洲综合网站不卡 | 国产日韩线路一线路二 | 亚洲午夜网 | 点击进入不卡毛片免费观看 | 久久夜色精品国产 | 一区二区在线播放福利视频 | 亚洲精品一二三区-久久 | 最新亚洲情黄在线网站无广告 | 欧美激情伦妇在线观看 | 日本高清视频一区二区 |