Copperbelt based Economist Manase Siwila has urged Government to directly engage the Chinese Government on Zambia’s debt restructuring, stating that the economic warfare between the US and China is indirectly affecting the whole process.
On Monday, President Hakainde Hichilema met with Chinese Envoy, Du Xiaohui to discuss issues of mutual interest. Mr Hichilema said his government is committed to strengthening ties with China, and continue working together to open up more opportunities for the Zambian people.
Commenting on this development, Mr. Siwila tells Flava News that in Zambia’s over $15 billion external debt, seventy percent is from China, and it is therefore imperative that Government should begin to engage its Chinese counterpart to negotiate the debt restructuring.
Mr. Siwila is of the view that instead of waiting to use the US’s influence in negotiating the huge debt that Zambia owes to China, government should take up the process and find alternative sources.
