China appeals to IMF to bail out Zambia

Masauso Mkwayaya-China has urged the International Monetary Fund -IMF- to expedite its consideration to assist Zambia with the 1 point 4 Billion Dollar Economic Recovery Package.

China’s Department of African Affairs Director General WU PENG says the financial assistance will help Zambia to invest in productive sectors.

Mr. PENG says he is in the country to coordinate China’s response to help Zambia deal with the debt situation.

He says this follows the telephone conversation that President HAKAINDE HICHILEMA had with Chinese President XI JINPING.

Mr. PENG says from the foregoing, his country and France Co-Chaired a Creditor’s Committee meeting on Zambia’s debt yesterday.

He said this at State House when he paid a courtesy call on President HAKAINDE HICHILEMA.

And President HICHILEMA has thanked his Chinese counterpart XI JINPING for his intervention which has placed Zambia’s debt restructuring efforts in high gear.

He said the country’s debt needs to be unlocked because it is strangling the economy.

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