GOVT`S DECISION TO EMBARK ON SEPARATE DEBT RESTRUCTURING DEAL NEGOTIATIONS WITH CHINA CRITICIZED

Economist Kampamba Shula says Zambia was wrong to have had separate debt restructuring deal negotiations with China away from other creditors.

In an interview with phoenix news, Mr. Shula says this is the more reason the country is currently experiencing the depreciation of the Kwacha, as the delay to conclude negotiations is causing uncertainty in economic fundamentals.

Mr. Shula says some bondholders are hesitant to respond positively to Zambia’s situation because they are speculative as to why Zambia can have different terms with China and still look for different terms with them.

He has since suggested that the Zambian debt negotiating team finds a way of bringing all creditors together for negotiations.

PHOENIX NEWS