PRESIDENT LUNGU ASSURRES CHINA OVER DEBT MANAGEMENT

LUSAKA, (Wednesday, 11th July, 2018) —His Excellency Mr Edgar Chagwa Lungu, President of the Republic of Zambia has today met with Chinese Ambassador to Zambia Mr Li Jie and discussed a broad range of bilateral cooperation mainly focusing on economic cooperation between the two countries.

Ambassador Li assured the President of China’s continued cooperation and support in various areas of national development. The Chinese envoy also sought clarification on Zambia’s debt restructuring programme so that Chinese authorities and financing institutions could plan accordingly. The Ambassador assured the President of China’s support for Zambia in its debt restructuring measures announced by the Minister of Finance, Margaret Mwanakatwe last month.

On his part, President Lungu assured the Chinese Ambassador that Zambia will proactively engage China at every stage of the implementation of the Debt Restructuring Programme to avoid disruption in the financing for project implementation and overall contractual obligations.

The President appealed to the Chinese Ambassador to inform all relevant Chinese authorities, financiers and companies that there will be no disruption in the ongoing projects because there was a care approach to guide the implementation of the measures announced by the Minister of Finance.

To this effect, the President informed the Ambassador that he has assigned five (5) Ministers to travel to China in the coming days to hold strategic consultations with Chinese authorities, financing institutions and Chinese companies doing business in Zambia to discuss the Debt Restructuring Programme. The Ministers who have been assigned to travel to China are: the Ministers of Finance, Foreign Affairs, Housing and Infrastructure, and National Development Planning.

The President thanked the Chinese Ambassador for the strong support China has provided to Zambia and encouraged him to work towards even greater bilateral cooperation in all areas of mutual interest between the two countries

The post PRESIDENT LUNGU ASSURRES CHINA OVER DEBT MANAGEMENT appeared first on Zambia Reports.

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