{"id":20452,"date":"2022-04-13T20:07:47","date_gmt":"2022-04-13T20:07:47","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa"},"modified":"2022-04-13T20:25:48","modified_gmt":"2022-04-13T20:25:48","slug":"zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa","title":{"rendered":"Zambia\u2019s Debt: China will come on board- Secretary to the Treasury Felix Nkulukusa"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>China\u2019s government is in the process of consulting internally about Zambia\u2019s international debt restructuring, Secretary to the Treasury Felix Nkulukusa says.<\/p>\n

\u201cI went to China myself with the minister of foreign affairs and China indicated they were coming on board and they are just making internal consultations,\u201d Mr. Nkulukusa told Reuters, declining to give further details of the March trip.<\/p>\n

Zambia was the first country to default in the pandemic era, in November 2020, as it buckled under debt of more than 120per cent of GDP. The debt hit US$31.74 billion at the end of 2021, 17per cent higher than six months earlier, according to official Zambian data.<\/p>\n

China and Chinese entities held US$5.78 billion. \u201cWe are now waiting for the official creditor committee to be formed and then we will present the debt sustainability analysis,\u201d Mr. Nkulukusa said.<\/p>\n

Zambia and China\u2019s foreign ministers held talks on March 19, Zambia\u2019s embassy in Beijing said in a statement at the time, during which \u201cthe two sides applauded the excellent relations that exist between Zambia and the People\u2019s Republic of China.\u201d<\/p>\n

Zambian finance minister Situmbeko Musokotwane told parliament on March 25 that its creditor committee would be announced \u201cwithin the next few weeks\u201d.<\/p>\n

He said last week that the southern African nation should get a formal deal with the International Monetary Fund, which holds its Spring Meetings next week, by mid year. Zambia reached a staff level agreement with the IMF on a US$1.4 billion, three-year credit facility in December 2021.<\/p>\n

\u201cWe\u2019ve got one international creditor that seems to taking a bit more time to make a decision,\u201d Britain\u2019s Africa minister Vicky Ford said on a visit to Zambia last week on the privately owned Hot FM Radio, without giving further details.<\/p>\n

Zambia is also struggling to service some \u201cold debt\u201d, presidential spokesman Anthony Bwalya told Reuters, but declined to specify which. \u201cOn one hand we need to service those debts and on the other we need to provide critical public services,\u201d Bwalya said.<\/p>\n

That\u2019s why it is important that we quickly anchor down that IMF deal so that those monthly payments \u2013 principal and interest \u2013 can be brought down to something that is within affordable margins.\u201d At the end of 2021, the country was in interest arrears on a majority of its foreign currency debt, according to government data.<\/p>\n

China has lent African countries hundreds of billions of dollars as part of President Xi Jinping\u2019s Belt and Road Initiative (BRI) which envisaged Chinese institutions financing the bulk of the infrastructure in mainly developing nations. Yet the credit has dried up in recent years.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. China\u2019s government is in the process of consulting internally about Zambia\u2019s international debt restructuring, Secretary to the Treasury Felix Nkulukusa says. \u201cI went to China myself with the minister of foreign affairs and China indicated they were coming on board and they are just making internal consultations,\u201d Mr. Nkulukusa told Reuters, declining […]<\/p>\n","protected":false},"author":84,"featured_media":20451,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,371,234],"class_list":["post-20452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-malawi","tag-malawi"],"yoast_head":"\nZambia\u2019s Debt: China will come on board- Secretary to the Treasury Felix Nkulukusa - Malawi<\/title>\n<meta name=\"description\" content=\"China\u2019s government is in the process of consulting internally about Zambia\u2019s international debt restructuring, Secretary ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zambia\u2019s Debt: China will come on board- Secretary to the Treasury Felix Nkulukusa\" \/>\n<meta property=\"og:description\" content=\"China\u2019s government is in the process of consulting internally about Zambia\u2019s international debt restructuring, Secretary ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-13T20:07:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-13T20:25:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/04\/img-625731ac0ebb8.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"408\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Zambia\u2019s Debt: China will come on board- Secretary to the Treasury Felix Nkulukusa\",\"datePublished\":\"2022-04-13T20:07:47+00:00\",\"dateModified\":\"2022-04-13T20:25:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa\"},\"wordCount\":460,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/04\/img-625731ac0ebb8.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Malawi\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa\",\"name\":\"Zambia\u2019s Debt: China will come on board- Secretary to the Treasury Felix Nkulukusa - Malawi\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/04\/img-625731ac0ebb8.jpg\",\"datePublished\":\"2022-04-13T20:07:47+00:00\",\"dateModified\":\"2022-04-13T20:25:48+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"China\u2019s government is in the process of consulting internally about Zambia\u2019s international debt restructuring, Secretary ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/04\/img-625731ac0ebb8.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/04\/img-625731ac0ebb8.jpg\",\"width\":720,\"height\":408,\"caption\":\"Zambia\u2019s Debt: China will come on board- Secretary to the Treasury Felix Nkulukusa\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/malawi\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Zambia\u2019s Debt: China will come on board- Secretary to the Treasury Felix Nkulukusa\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#website\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/\",\"name\":\"Malawi\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/malawi\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Zambia\u2019s Debt: China will come on board- Secretary to the Treasury Felix Nkulukusa - Malawi","description":"China\u2019s government is in the process of consulting internally about Zambia\u2019s international debt restructuring, Secretary ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa","og_locale":"en_US","og_type":"article","og_title":"Zambia\u2019s Debt: China will come on board- Secretary to the Treasury Felix Nkulukusa","og_description":"China\u2019s government is in the process of consulting internally about Zambia\u2019s international debt restructuring, Secretary ...","og_url":"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa","og_site_name":"Malawi","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2022-04-13T20:07:47+00:00","article_modified_time":"2022-04-13T20:25:48+00:00","og_image":[{"width":720,"height":408,"url":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/04\/img-625731ac0ebb8.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Zambia\u2019s Debt: China will come on board- Secretary to the Treasury Felix Nkulukusa","datePublished":"2022-04-13T20:07:47+00:00","dateModified":"2022-04-13T20:25:48+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa"},"wordCount":460,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/04\/img-625731ac0ebb8.jpg","keywords":["Africa Press","Africa Press-Malawi","Malawi"],"articleSection":["all news","economy","homepage-english"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa","url":"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa","name":"Zambia\u2019s Debt: China will come on board- Secretary to the Treasury Felix Nkulukusa - Malawi","isPartOf":{"@id":"https:\/\/www.africa-press.net\/malawi\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/04\/img-625731ac0ebb8.jpg","datePublished":"2022-04-13T20:07:47+00:00","dateModified":"2022-04-13T20:25:48+00:00","author":{"@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"China\u2019s government is in the process of consulting internally about Zambia\u2019s international debt restructuring, Secretary ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#primaryimage","url":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/04\/img-625731ac0ebb8.jpg","contentUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/04\/img-625731ac0ebb8.jpg","width":720,"height":408,"caption":"Zambia\u2019s Debt: China will come on board- Secretary to the Treasury Felix Nkulukusa"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/zambias-debt-china-will-come-on-board-secretary-to-the-treasury-felix-nkulukusa#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/malawi\/"},{"@type":"ListItem","position":2,"name":"Zambia\u2019s Debt: China will come on board- Secretary to the Treasury Felix Nkulukusa"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/malawi\/#website","url":"https:\/\/www.africa-press.net\/malawi\/","name":"Malawi","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/malawi\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts\/20452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/comments?post=20452"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts\/20452\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/media\/20451"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/media?parent=20452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/categories?post=20452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/tags?post=20452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}