resident Xi Jinping will host the leaders of two heavily indebted nations for state visits to China this weekend, as he skips the world’s premier forum for top-level diplomacy in India.
While Zambia and Venezuela are a central part of the global conversation on debt, neither is a G20 member. The grouping has agreed to grant permanent membership to the African Union, Bloomberg NewsThursday, a move that would give Zambia some opportunity for participation at future summits. Zambia became the first country to win major debt relief through the so-called Common Framework earlier this year. China’s central role in that deal to restructure $6.3 billion in bilateral debt set a template for how coordination between its government, the Paris Club and bondholders can work.
That’s placed it at the center of a struggle for influence between China and the west as governments try secure access to metals that are forecast to be in short supply over the next decade. At least one Chinese company — Zijin Mining Group Co. — is bidding to take a stake in Zambia’s Mopani Copper Mines Plc assets that the government took over from Glencore Plc in 2021 via a majority state-owned investment company.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: EchoWhatsOn - 🏆 74. / 59 Read more »
Source: OilandEnergy - 🏆 34. / 68 Read more »