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Zambia

Creditors fume as the beat goes on

After the default, the bondholders and Chinese creditors are jostling for priority but secrecy and local politics are blocking a credible solution

National politics and geopolitics are set to scupper any attempts to resolve the crisis over Zambia's more than US$12 billion foreign debt. There is little sign that President Edgar Lungu's government will produce a credible debt-restructuring plan acceptable to both Western and Chinese lenders.

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