China takes new approach on emerging market debt – Breakingviews

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China takes new approach on emerging market debt – Breakingviews




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Beijing has agreed to work with the Paris Club of official creditors to settle Zambia’s $17.3 billion debt mess. This is a major departure from the bilateral approach he usually takes. An even bigger sign of progress would be accepting a haircut on the $5.8 billion China owes.

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