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Zambia's Chinese Debt in the Pandemic Era

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  • Brautigam, Deborah
  • Wang, Yinxuan

Abstract

Zambia's debt difficulties hit headlines in November 2020 when the country defaulted on its Eurobond payments. In August 2021 a new president, Hakainde Hichilema, took office, facing a debt burden that had never been fully transparent to Zambia's public and the world. This paper is CARI's contribution to public understanding of Zambia's Chinese debt. The authors use CARI data and research on loan disbursements and repayments to estimate Zambia's outstanding external public debt to all Chinese financiers, official and commercial: approximately US$6.6 billion. This figure is more than double that of the most commonly cited figure for Chinese debt in Zambia (US$3 billion).

Suggested Citation

  • Brautigam, Deborah & Wang, Yinxuan, 2021. "Zambia's Chinese Debt in the Pandemic Era," SAIS-CARI Briefing Papers 05/2021, Johns Hopkins University, School of Advanced International Studies (SAIS), China Africa Research Initiative (CARI).
    • Handle: RePEc:zbw:caribp:052021
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    File URL: https://www.econstor.eu/bitstream/10419/248246/1/sais-cari-bp05.pdf
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    Cited by:

    1. Brad W. Setser, 2023. "The Common Framework and its Discontents," Development and Change, International Institute of Social Studies, vol. 54(5), pages 1065-1086, September.
    2. Andreas Kern & Bernhard Reinsberg & Patrick E. Shea, 2024. "Why cronies don’t cry? IMF programs, Chinese lending, and leader survival," Public Choice, Springer, vol. 198(3), pages 269-295, March.

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