CANCELLATION OF OVER 22 MILLION U-S DOLLARS ZAMBIA OWES CHINA RAISES CONCERN

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CANCELLATION OF OVER 22 MILLION U-S DOLLARS ZAMBIA OWES CHINA RAISES CONCERN

CHARLES MALUPI

 

 

The Opposition Alliance for Development and Democracy (ADD) has questioned the motive behind the decision by the Chinese government to write off the more than 22 million united states dollars as part of the debt that Zambia owes the Asian country to reduce the debt burden, describing it as suspicious.

 

According To media reports the Chinese government, apart from Writing-Off Part of the debt that Zambia owes it has given the country a grant amounting to 30 million United States Dollars to support various developmental projects to accelerate industrialization.

 

But party leader, Charles Milupi stresses that the move raises a lot of questions about what the Chinese government is up to saying no person can do that without expecting a favour in return. 

 

The ADD leader adds that the move to write off part of the debt will not make any tangible impact on the country’s economy in view of the country’s current state of external debt.

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