African people in best position to tell who is the real friend of Zambia – China
By Fanny Kalonda
CHINA says Zambia’s debt restructuring requires mutual understanding and trust between all stakeholders and joint efforts to come to the optimal solution.
During his regular press conferences on Tuesday, Chinese foreign ministry spokesperson Wang Wenbin said according to the data released by Zambia’s Ministry of Finance and National Planning, the debt of predominantly Western commercial lenders and multilateral financial institutions account for 70 per cent of Zambia’s foreign debt.
“They should take up due responsibilities and take stronger actions to relieve Zambia’s debt burden,” Wang said.
This was in response to CRI’s question that “according to reports, the Zambian Ministry of Finance and National Planning issued a statement on February 13 to clarify the Financial Times’ report based on an interview with minister Situmbeko Musokotwane. It read that ‘The headline did not accurately reflect the minister’s comments or Zambia’s position’ and that the minister ‘did not reject a Chinese call to include multilateral lenders in the debt restructuring, as originally implied’. That was followed by the Financial Times’ correction. The ministry also reached the Chinese Chamber of Commerce in Zambia last night to clarify Zambia’s position and hoped that Chinese friends will not misinterpret the minister’s views due to the report. What’s your comment?”
Wang said as Zambia’s friend, China attaches high importance to Zambia’s concerns about the debt issue.
“China is the first international official creditor that provided debt relief for Zambia, and facilitated the success of three meetings of the Creditor Committee for Zambia as a co-chair. According to the data released by Zambia’s Ministry of Finance and National Planning, the debt of predominantly Western commercial lenders and multilateral financial institutions account for 70 per cent of Zambia’s foreign debt.
They should take up due responsibilities and take stronger actions to relieve Zambia’s debt burden.
We believe that the Zambian government and people know what China has done to promote Zambia’s national development and sustainable development, and China’s contribution to helping to resolve Zambia’s debt issue.
The urgent statement released by Zambia’s finance ministry shows the solid mutual trust and traditional friendship between China and Zambia, and may have, therefore, let down some media outlets who had hoped for trouble between China and Zambia,” said Wanga. “The African people are in the best position to tell who is the real friend of Zambia and has been helping African countries realise national development. Regarding Zambia’s debt treatment, certain media with a hidden agenda often take things out of context and sow discord between China and Zambia or the wider Africa. But what they do cannot stand the test of facts, still less help solve any problems. This is clear to Zambia and the international community, which naturally puts those outlets’ credibility in doubt.”
“We believe that Zambia’s debt restructuring requires mutual understanding and trust between all stakeholders and joint efforts to come to the optimal solution. China will continue to stay in close communication and friendly consultations with Zambia and all other parties concerned and play a constructive part in resolving Zambia’s debt issue.”