China has urged the International Monetary Fund (IMF) to expedite its consideration to assist Zambia with the $ 1.4 billion Economic Recovery Package.
China’s Department of African Affairs Director-General Wu Peng has said that 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.
The President said that his government wholeheartedly thanked the People’s Republic of China for agreeing to co-chair the IMF Common Framework meeting with France.
“Zambia’s debt situation needs to be unlocked so that Zambia’s economy can be opened up. Mr Peng indicated that his country is ready to partner with Zambia for economic growth and improved living standards for our people, “ Mr Hichilema said.
The president said that his government agreed to work closely to further strengthen an all-weather relationship which saw the TAZARA Railway built by our Chinese brothers and sisters, and helped to open up Zambia to the sea port of Dar-Es-Salaam in Tanzania.
The President said that he is delighted that the phone call he had with President Xi, just over two weeks ago, has already begun to bear fruit.
Beggars, I told you, China is stronger than your masters.
China has returned to its policy of TAKING OVER the country. Next move: more Chinese companies exploiting Zambian workers
Russians and Chinese are now ruling this country. The two countries which know NOTHING of rules of law, human rights, and ethical principles – and know EVERYTHING of CORRUPTION, THIEVING and IGNORING THE LAW.
So surly do Zambia need external forces to talk to IMF? this is a sign ati vintu vakanga
surly do we need extenal forces to talk to the IMF? i think these guys need to be serious this is a sign ati vintu vakanga
PF BORROWED CARELESSLY FROM CHINA NOW UPND WANT TO PUT THE HOUSE IN ORDER SIMPLE THAT IS WHY CHINA HAS MORE POWER TO GET THERE MONEY
So Zambia’s biggest creditor is advising the bank to lend them money…really laughable…if i was the bank I would think very carefully.
China executes corrupt officials in China………..
China knows it is in their best intrest to have a prudent economic manager in state House instead of a corrupt theiving drunk……….
Zambia is now positioned firmly to reap the best of both worlds………..
China and the west……..
China executes corrupt officials in China………..
China knows it is in their best intrest to have a prudent economic manager in state House instead of a corrupt theiving drunk……….
Zambia is now positioned firmly to reap the best of both worlds………..
China and the west……..
Well played Mr president
Hh initially thought he was more clever than us by sidelining China in favour of western world. The western world then showed him that they don’t see any difference between him and all leaders of African countries. They see us all as corrupt and beneath them. Today hh is now begging for china’s attention. We told you f00I
Simple China can not get its debt paid if the economy is not productive
Keep it going HH you will have the last laugh in 2026
Some bafoons thought 10 years of mismanagement by a gang of thieves would be undone in 6 months
Spaka – Please dont be naive and support blindly yes China executes corrupt officals in CHINA not when they are doing business outside or are high ranking officals of the communist party. I have dealt with the Chinese before if you want poor quality products at high quality quotes they will give you but if you want high quality gear to your world standards they will provide. Botswana and World Bank have put alot of State Construction companies on the black list were their Directors imprisoned in Beijing? No infact the same companies are doing buisiness in other African countries
Look at how misinformed and ignorant the UK based Impostor/ Troll/ Fraud sounds …really laughable
F00lish small boy
Because during campaigns you used to insult China, China will ensure you pay through the nose. It’s a warning to the opposition…. respect all countries as you conduct your campaign.
HH has a lot to learn about international diplomacy. We are no longer in the Cold War epoch. We are in one global village where all players are inter-connected. The pushing aside of China the immediate after winning the elections was an error of judgement, especially since China is our biggest creditor. Unless otherwise, surely HH must know by now that China has invested billions of dollars via its proxies in the IMF, just like it has invested trillions of dollars in the USA Government Treasuries. Now China has finally coughed and there is life in the due process of getting this IMF Loan.
Deja Vu – Where did HH7 insult the Chinks the biggest creditor? Let’s be objective…we know you can not say anything positive because most of your drinking mates from Pay Forward are not frequenting the local pub and making it rain with taxpayers funds no more T-bones and Castle Lites.
One example December 2017
What did he say exactly?
Look at Stanley K. Kakubo smiling away …his pay masters have come more calenders for the lad..
You forget the negatives you and your party used to say about Chinese presence in the country? I never share anything from any politician.
So the Chinese are telling the IMF to give back the money IMF owes China so that they can continue to do business with Zambia. IMF are a bunch of leeches whose aim is to suck you dry. Europe use all sorts of trickery to get countries to default so that they go after them as debt collectors.
Deja Vu
Indeed silence can be used as a Snub, Shun, Disdain, Humiliating Gesture, Attacking Weapon, Demean Tactic or as an Insult. If you walk into someone’s house as a guest and all you see is silence, or cold shoulders That itself tells the story
You don’t need to insult someone with foul language or use signs such as the middle finger or double fingers. The biggest insults or racist gestures are the silent ones. Just the way you look at someone can say more powerfully than words. Or how you ignore someone, especially in relationships, and professional working environments. Silence can be used as a Peacemaker, Humiliating Gesture, Attacking Weapon, Demean Tactic or as an Insult.
……….life and living
..,,..masks are melting,could you see the…….borrowing or raise money from own resources lying in the ground.What did we plan initially………..?……..what did we tell the community?
It’s bi..bi..c news
Some people can really expose their foolish.ness after chasing China, went to the Western world who are oppressive , greedy, thieves of mineral resources, We told you chaps ba praise singers China is not small, the give investment money or tuma donor aid that brings homosexuality lesbianism and gay rights into our nation…The previous heads of state where not stu.pid …by distancing the nation from crooks and criminals who’s main is to steal minerals this is why the under5 government must lift them mining tax holiday…