Zambia’s President Edgar Lungu has 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.

Speaking today met with Chinese Ambassador to Zambia Mr Li Jie, 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.

President Edgar Lungu with Chinese Ambassador to Zambia Mr Li Jie shortly after presentation of credentials house

To this effect, according to a statement released to the media by State House, 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

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.

 

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42 COMMENTS

  1. Good job Zambia! A friend in need is a friend indeed! Thank you China! good job Mr. president! Let’s develop this thing! HH will never have anything to offer! All he wants is to sell Zambia to his friends and bidders.

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    • Sharon your kind of Zambian suffers from mental illusions. In the article above there’s nowhere your favorite target hh is mentioned. Is there any possibility for you guys to discuss any topic on this site without reference to hh? Zambia is sinking in debt to the point of HIPC days and all you can muster is hh? You could do better buddy.

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    • Lungu is a clown. Just see the way he dresses these days, like he is male model at the Paris catwalk.

      Where has all the money he borrowed on our behalf gone? I think we have an idea…

      Honestly, this man is not even fit to be mayor of Kalulushi.

      The true extent of the damage he has done to Zambia will only start appearing after this drunkard is booted out of office..

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    • IndigoTyrol – he thinks he is a DRC Rumba musician …that’s what he spends he time doing, I mean how can you make assurances about debt dressed like a secondhand car salesman.

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    • Mr Pesident, I think its time to get into an all-year-round black suit. Take a tip from ching chong there

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    • analyser – unfortunately Lazy Lungu is the President, he will never pay anything he will be in Swaziland enjoying retirement whilst your children slave for the Chinks.

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    • We can still work with the Chinese to sort Lungu out once he’s out of power. We can work with the Chinese mafia to retrieve Lungu from any hole. Lungu will pay with his minions like KZ.

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    • So why is he sending 5 ministers to China? Its clear he is sending to leverage debt with our resources ie mines, game parks all because of recklessness….we told these dingbats where is Yambayamba “I’m a boss” and Junior?
      So much for austerity measures…

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    • Let’s roll to where ba Mumba? Insoni ebuntu muntu wandi. The dull one in state house is taking us nowhere and your insistence to still support him just makes you a retard to be honest.

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  2. There’s what is known as diplomatic-speak or diplomatic double-speak. It’s no one’s mother tongue.

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  3. When I assess the damage, I arrive to the conclusion that Zambia’s debt does not need restructuring but a complete write-off.

    What surety is there that China shall not be another IMF? Unequal partnerships between the rich and poor always exist to the benefit of the rich unless there is 100% debt relief and assurance of financial support for the poor.

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    • No wonder you are lazy and a gullible woman …debt write off you think money grows on trees in China? Its taxpayers money…this is what happens when you don’t work for something.

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    • Just like HH has been reassuring those friends of his in South Africa, right? Good job Mr. President! Nothing wrong with that then!

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  4. @Warlord Chanchima, Sorry I see HH all over you my friend! You mean you can’t see him? Please bear with my HaDelusions and Hallucinations and HaIllusions! HH is the next president and “when we form government, Lungu will go to prison!”

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    • @Sharon fair enough. My point is in rhetoric or philosophy you weaken your argument when you bring in irrelevant and confounding variables. You guys who have access to those in power would do well to give sound technical advice rather than bringing in non issues. You may come across as facetious when in fact not.

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  5. We are sending five ministers to China in order to find out which other infrastructure we can give them to offset the debt contracted and how we can then obtain more loans at the same time.

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  6. Look at Lazy Lungu’s attire …..really laughable…he reminds me of our garden boy all dressed up on Friday evening going to drink Chibuku at the Tavern in Chilenje after watching Timmy Mvula’s Time for Music with us.
    You can take the Komboni boy to State house but you can not take the komboni and fontini out of him!!!

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    • The lazy man has more than four colours in his attire …everyone is drunk at State House nowadays ..no wonder KZ was so drunk he thought he was on autopilot in Presidential Challenger Jet Flight PJ-ONE forgetting he was behind the wheel in a govt vehicle.

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  7. HaJayJay doesn’t believe in God! He does not believe in Jesus either! He is the god of the Online Wing of Hatribes United and hooligans and bullies of the tribal gathering! Who do you think they represent? Satan! Who do you think they sacrifice to? Satan. Who do you think they want to lead Zambia? Satan.

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  8. Lazy bum insolent tribal online hooligan and bully of the tribal gathering and son of the polygamist father who never taught him manners will end up like Chanda Chimba III.

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    • Its time to double the dose of your Bi-polar medication, your are really losing it more.

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    • @HaChrome, when I double it, are you suggesting that @IndigoTyrol#1.2 trebles his dose? That is the surprising thing of the “Support Your Local Team” clowns, you never see your wrongs!

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  9. The doctors treating the guy in a checked jacket are not doing a good job. May be the guy in the picture is a Rhumba dancing king who looks like president of Zambia. That aside selling Zambia just to have coins to bribe cadres. So the announced austerity measures have been thrown out through the window. More debt whose burden will be hard felt by own children. Sad!

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  10. Interesting article on Bloomberg today

    Asian countries especially Sri Lanka and Pakistan backing out of chinese infrastructure financing

    Sri Lanka figured out that the interest repayments virtually wipe out their entire tax revenues

    Pakistan threatens China that Pakistan will disclose the usurious and parasitic terms of the loans it has entered into with China

    Its scary coz we have no idea of the terms of the chinese loans to Zambia.

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    • Thats why 5 minister have to go just to understand these loans. I am sure everyone is in confusion!!!!

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  11. We need leadership restructuring because when MMD was in charge the debt was low and the economy was growing at 6% unlike these PF chokolwas who got us down to 3% growth

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  12. Jay Jay, not a word on Katuka, upnd and arson?
    Plenty on “lazy Lungu blah blah blat blat”.
    The tribal jj fully exposed from head to underwear!!

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    • The article is about debt restructuring, sending 5 ministers to China and you concerned about your usual foools in UPND…stick to local govt byelection campaigns.

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  13. jj, whatever, the fact is that you have been exposed, now everybody knows whom you really are and tge objective of your comments. You didnt expect to hide forever did you? Now no one on LT can be hoodwinked , wasting your time really trying to campaign for your tribal god!.

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    • You have been exposed as sufferer of genetically induced !mbecility years ago. Every single comment you make reinforce initial diagnosis!!!

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  14. The president is making such assurance and yet he is busy planning his escape root to Swaziland and we the real Zambians will be suffering paying off the Chinese loans that ended up in PF pockets. Lungu is really a failed project on the country.

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  15. Time to toughen up, tight belts all round. This was inevitable. Every 10 years you can expect a dip in Markets and world economy. Recession on way (last 2008), and USA Trade War on China and other Western countries will affect our relations with our friends. It’s not PF.

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Comments are closed.