The Political Economy of the Zambian Debt: Context, Restructuring and a Constrained Future
摘要
The freewheeling borrowing by the Lungu government added to Zambia’s economic woes. Highly problematic was the issuing of ‘Eurobonds’ to private international investors, as well as debt owed to China. It meant eventual debt negotiations had to involve different negotiating strategies. These had to be fielded by Lungu’s successor, Hakainde Hichilema, and this led to a period of great uncertainty. The IMF introduced special measures that established a precedent for other heavily indebted countries.