Zambia is among countries at the highest risk of losing strategic assets to China over the pile of debt it owes Beijing, global ratings firm Moody’s Investor Service has said in a newly-released report.
Moody’s says in the report that China’s response to sub-Saharan Africa countries facing liquidity pressure has not been uniform or transparent – meaning predictability of credit implications are less clear.
“Countries rich in natural resources, like Angola, Zambia, and Republic of the Congo, or with strategically important infrastructure, like ports or railways such as Kenya, are most vulnerable to the risk of losing control over important assets in negotiations with Chinese creditors,” Moody’s warns.
The report also notes that such countries are also at risk of being offered liquidity relief at higher resource concessions that only reduce the value of future export earnings.
“Even if debt restructuring alleviates immediate liquidity pressure, the loss of natural resources revenue or other assets is credit negative,” Moody’s adds.
Outside sub-Saharan Africa, China got land in exchange for some debt relief in Tajikistan and took control of the Hambantota Port in Sri Lanka.
“In general, concentrated exposure to a single creditor, with little transparency about decisions to restructure the terms of the debt, increases rollover risks, weakening the fiscal profile,” Moody’s said.
The ratings agency says that for countries with narrow export bases, an increase in external debt associated with China’s lending may not be met with sufficient and stable foreign-currency earnings in the future.
Besides, Moody’s says, Chinese loans also come with relaxed conditions such as no call for structural reforms to enhance governance and competitiveness thus jeopardising the longer-term growth benefits from such loans.
Chinese lending to African countries increased to more than $10 billion annually between 2012 and 2017, from less than $1 billion in 2002.
Angola (30 per cent), Ethiopia (10 per cent) and Kenya (seven percent) received almost half of all Chinese investment on the continent between 2000 and 2017, according to Moody’s.
In Zambia referring to them as Chinese is considered as xenophobia, just refer to them as THE GREAT WALL DRAGON
Margaret needs to meet the CEO of Moody’s and find out where they are getting all this wrong information from.
This is beyond economic sabotage and we can’t sit there idly like that being cannibalized without fighting back.
What evidence does Moody’s have to proof their point otherwise we are losing our PR war against these propaganda issues.
Perception, perception, perception!!!! Perception is gold in the eyes of any investor and we are brutally being painted black here.
Heaven help us all …
Indeed it quite clear that China has our country and especially our leaders by the scruff of their necks. We have already seen them seizing strategic assets in other countries, because of defaults on loans. Sri Lanka has already lost a strategic port for example.
We can see the pressure by how taxes and charges are being manufactured to squeeze the already struggling citizens. We can see how prospecting for copper is happening in secret at the ZAFFICO plantations by Chinese. And all the while people want to deny what is unfolding before our very eyes. I wonder why.
Let’s roll ” ha ha ha ha”
There can be no true progress without accepting and speaking the truth. We often think that by putting up an image in front of people to portray ourselves in a positive light, when in fact we are wretched is what the bible calls hypocrisy. It’s the reason Jesus condemned the Pharisees. Their primary concern is how people see them and not how they truly are. An acceptance of ones true condition, a confession of ones short comings is the beginning of good works. It’s the beginning of progress. When one is honest about their short comings, then they can honestly work to address them. Sadly politicians never learn this important fact
B R Mumba, Jnr must be smoking a lot of weed.
The trouble is we have dull people leading this country. Our leaders are neither suitably qualified in economics, nor in good governance.
They practice politics of the belly.
The head of state is a drunkard. The finance minister is a drunkard. The government spokesperson is also a drunkard.
China will one day soon collect on their debt.
Lungu and his groupies will have long vanished by then.
And all you dull PF cadres will have switched camp by then, licking another stinky @ss.
This really amazes me. IMF, World Bank and the West in general has held Africa at economic ransom forever. In fact they even impose very hash economic and social behaviour conditions like allowing s*domy, to nudity, imposing puppet governments, selling social infrastructure like Hospitals schools and selling off national asset like mines -privatization. The list goes on and on. You chaps never raised a finger. In fact you praised them, because you are racist and xenophobic and Muzungu boot likers. When the Chinese do the same at better and softer terms you say death China. Canadians, Australians etc right now owns prime Land and mines in Zambia no one demonstrates and riots. Any mention of China the whole HH Upendi Kingdom explodes with fury. Forgetting that most “golden” national…
Cont’d
Forgetting that most “golden” national assets were sold by HH himself personally. This is just racism and hypocrisy at the highest. By the way what new and beneficial things will you do with these so called assets which you have failed so miserably to use to develop Zed since independence. You will just loot the whole lot and fly off to the UK USA etc leaving your relatives to fend for themselves..Shame on you for siding with Moody’s a corrupt ratings agency – they have actual been found guilty of this before FYI
IndigoTyrol – people like JUNIOR are educated fooooools …he is a banker…these are the people who fleeced peoples’s savings at Meridian Bank…my poor neighbour and his wife both banked there and thier savings disappeared right after payday when that bank closed down….he doesn’t care about debt in your children’s names.
Uwafitala akimwena umwine. PF are all about politic with very little understanding of Zambia’s economy. All they know if they dress down HH the economy will be sorted out by prayer.
Moody’s is a Western capitalist institution designed to keep the Third World yoked to imperialist doctrines that perpetuate slavery. Any South to South economic cooperation is a threat to such institutions. Its time the Third World freed itself from economic imperialism
@Gay Gay … blame FTJ for politicking Meridian BIAO Bank not Andrew Sardanis and myself who built the best indigenous bank from the ground up among the smart people of the Zambian Enterprise. The only reason Ka Chiluba closed the bank was he was afraid we were funding KK’s campaign.
@Indigo fimo fimo … the stuff I smoke you are not even qualified to touch and please stay blind … it is better for you that way. I don’t know how old you are but the same Moody’s in the early 90’s never said anything good about China.
At the time, China was the 10 largest economy!!! They kept on ranting this same kind of gibberish and today China is the 2nd largest economy and by some estimates the 1st largest in the world. Go figure!!
Let’s roll! It is well! Let’s develop this thing it is UNELECTABLE. Mapatizya Formula from the TRIBAL UNION will not work. We have gone too far to go back HAGAIN.
The President of Tanzania was praising the Chinese Government yesterday on BBC Africa for what CHINA is doing in Africa. Guess who were gnashing their teeth?
Well spoken ba mumba, well spoken Hakaiinde! I wont even read the other comments
THIS MOODY HAS REALLY BEEN ON ZAMBIA’S TAIL FOR A WHILE NOW. PERHAPS WE SHOULD JUST ACCEPT IT’S REPORT. MAYBE ONLY THEN WILL WE CALM IT’S HELL UP.
Maybe they have a point, maybe not. They sound like one American business lecturer during the LPM reign who stated that China was taking advantage of our resources. Let’s imagine for once that Moody’s fears which has also been the DEADs point of view was true. I the, skeptic, will rant Mama mia, we’re f@cked. Otherwise y’all moody jockers and supporters shut the hell up. Y’all Zambians who have signed papers onbehalf of ECL to stay the rumor . Are you not patriotic?
But then is that all you got? Rumor and unsubstantiated mumble jumble. Doesn’t that story got paperwork backing? Is that it?
B R Mumba, the burden of proof is on you, and not on Moody’s. Prove them wrong if you have facts to the contrary. Let’s see your facts. Attacking them without proving them wrong is cheap rebuttal. China has already done what Moody’s is talking about to other countries, such as Sri Lanka and Djibouti. So they would’ve no problem doing the same thing to Zambia. What are going to do when you hear that China has indeed taken over strategic assets in Zambia? Most likely we’ll not hear from you. You’ll avoid LT like a plague. Wake up.
They can take the Vic Falls.
Why the Vic Falls – there are a lot of other Falls, in fact inland, that are undeveloped that they can get and in fact divert all the attention from Vic Falls where Zim has the Lion’s share.
Hear this.
2015
In 2015, male to female ratio for China was 106.27 males per 100 females. Male to female ratio of China increased from 105.45 males per 100 females in 1970 to 106.27 males per 100 females in 2015 growing at an average annual rate of 0.09 %.
We have more Maria’s than them, they need women. And why do this people call every zambian woman as Maria.
@abilima, that piece of misinformation is what Zimbabwe thrived on in the past. It’s not true that Zimbabwe has lion’s share of the falls. What is true is that you can view a larger chunk of the falls from Zim side including the portion on Zambian side. What is true also is that largest portion of the falls are actually on the Zambian side and the falls actually sit closer to the Zambian side but facing Zimbabwe side and that is why you can not just see but walk close to the falls on the Zambian Knife Edge Bridge for a more exciting view & even swim in the devils pool. So don’t believe the marketing craze from Zim. Our tourism board also needs to wake up and market us properly everywhere. God Bless Zambia
The Chosen One – You missed what I put across: I am not talking about the physical location of the Vic Falls, I am talking about who reaps more from it.
I wouldn’t mind giving them everything! Guess what? They will still be in Zambia and not in PANAMA!
King Solomon had this to say in Proverbs 22 verse 7:’The rich rule over the poor, and the borrower is slave to the lender’.
Lets hope Maggie and her team at Finnace mininstry are doing everything possible to ensure China’s debt is taken care of.The worst thing will be Zambia going back to begging for forgiveness for debt contracted as was the case with HIPC initiative.
Government alone can never develop a nation. The citizens themselves have to find it in themselves to do so. In Zed and most of Africa, we think we own the government jobs and that we work for our selfish wishes, therefore we plunder at every opportunity we get from a cleaner stealing cleaning materials to the Minister doing nichekeleko deals. Auditors and those policing included. Somehow we expect things ukuisova and somehow develop. As usual when we get into financial trouble after squandering everything, we run for Kaloba – just like we do at home – and still expect somehow to find a way out, which proves impossible pa last you blame everybody but yourselves. China, America IMF, UK World bank will never develop us we have to do it ourselves. Case in point S. Korea, Taiwan, and now China
Let’s develop this thing. Have you noticed that is only the HATRIBES UTD FOOTBALL CLUB which is gnashing its teeth here? What do you think that means? ZAMBIA NEVER EVER VOTE IN this pathetic TRIBAL H-organisation. It has no REAL interest for Zambia at heart. It wants to sell HAGAIN.
This is coming from Moody’s and not HH. Soon some sycophants will start ranting about HH instead of taking a level headed analysis of the warning given here. Debt in whatever form is not good, we are consciously auctioning our natural resources and national assets in an attempt at winning elections, instead of being proactive and invest in agriculture activities. The biggest challenge is that even the government has failed to disclose how much we are owing these Chinese. No matter how long this secret will be kept, the truth will come out when the Chinese start to demand repayments. There is something sinister about these loans that we have decided to turn a blind eye, soon a reality check will pop up when some of these leaders leave power.
What is the difference between Moody’s and HH? You think Moody’s would be writing like this if these debts were owed to Western Countries? They would instead be talking about how good it would be for these countries to surrender some of their assets in order to effect efficiency and profitability.
@ abilima
Either your memory is disappearing like Zambian assets or you like to ignore FACTS:
1. Zambian external debit was wiped-out by the “Western Countries” after KK removal;
2. Only outstanding debit of that period which was not considered originated from “Comrades” like Soviet Union, East Germany, Poland …
3. In so far, your Chinese “friends” are very frugal in giving grants or financing support for the poor, water, medicines, education …………..
4. Chinese “Loans” are only benefiting Chinese labor and fattening bank accounts of your humble, anointed, visionary and utterly corrupt “leadership” (LoL)!!!
If you are not happy with the “Western Countries” donations, grants and NGO’s, just refuse.
Otherwise, GO AND F*CK YOURSELF IN YOUR WIDE ARSE!!!
If course it’s HH feeding them with this nonsense, where else would they get it from. Have you seen Moody’s office in Zambia. Chibamba Kanyama is also involved.
@4.2 Westerner, PLIZ DON’T EULOGISE THE WEST, they “forgave” debts bcoz they had made profit, upon profit on it!! It was in their interest to cancel those debts NOT ONLY FOR ZAMBIA BUT WHOLE SUBSAHARA Africa BCOZ THEY HAD WON THE COLD WAR and they needed to give breathing space to the economies in order for them to grow their multinationals!! That debt forgiveness came at a great price, we had to give away a lot in terms of the economy and social [email protected] Abilima has a POINT, THE WEST JUST LIKE CHINA ARE ONLY LOOKING AT THEIR OWN INTERESTS NOT THAT THEY WANT TO LIBERATE US FROM CHINA!! If they had our interests WHY NOT COME UP WITH A BETTER DEVELOPMENT AGENDA FOR AFRICA, that will ENABLE AFRICA ADD VALUE TO ITS NATURAL RESOURCES WHICH THEY WRONGLY ACCUSE CHINA OF TAKING!!
Thank you @4.4 zambiaisours, @4.2 Westerner please refer to @4.4.
HH is a tribal lunatic maybe a psychopath as you have just hinted to us! He has money stack in PANAMA and he should stop ranting because he is a THIEF.
@4.4, children of CHILDISH can’t H-understand that! It is too complicated.
Bamwine or whatever you call yourself, Moody reads the lies from akainde and think that is the gospel truth. he failed to substantiate his claims before the microphone and dodged all questions from that beautiful intelligent reporter the way he dodged the questions from Mpo in SA.
Zambians have thick heads even if the report was in the guardian, they still say it’s White feeling jealous
Dununa Reverse time people. Time to dance. Na Chorus tailafika!
Whats the proof?
If your friend is building a house for you that costs $2million and charging you $10 million and you are going to pay him back via a loan either way its win-win for him if you choose not to pay him back…let that sink in your thick skull!!
Zambia is doing fine. Let’s develop this thing Zambia! No one else will develop it for us. The good news is that it is UNELECTABLE!
“Sharon” even a fool acts wisely when they stay silent.
Puti wa puti gay jay.
You lie like chief lucifar mwaiche.
Kasunde uye mukulala.
The first thing the creditors will grab is all the airplanes that the “new” Zambia Airways has, because they are easy, and in a foreign country.
Look what happened to Zimbabwe.
When are the Eurobonds due????????
You don’t own any aircraft just the name worth $30 million Ethiopian Airways own the aircraft …the only aircraft you own are those VVIP aircraft the lazy thing has bought for himself.
WHAT IS PATHETIC ABOUT THE. MOODY’S ARTICLE IS THAT THEY DO NOT COMMEND THE CHINESE MEANINGFUL AID BUT DO NOT TALK ABOUT THE COSMETIC NON-AID FROM BRITAIN AND AMERICA.
BRITISH AND AMERICAN ASSISTANCE IS NOT MEANT TO MAKE US INDEPENDENT BUT DEPENDANT ON THEM FOREVER COMPARED TO CHINA INFRASTRUCTURE AID.
And Chink aid is meant to make you independent…really laughable…$1.2 billion for a carriageway
@ #8
Which “Chinese meaningful aid”? Do you brainless !mbecile know difference between aid and loan?
@ #8, Make no mistake – the Chinese have set out to control Africa for their own self-interest. Nothing more. Pity you don’t see it.
I am also laughing at the laughing tribal gas. It is choking my eyes!
Hey you kids jay gay and friend.
Don’t be stup!d, your country sold its assets in mining at the advise of your godfathers and at the management and oversea hetch hetch. What are you whining and shrilling about?
speculations anyway we need to watch mwandi
These useless PF pricks just borrow and don’t understand the damage they are causing, we have always said, borrowing is not development, this govt has never even disclosed the terms of these loans, they have never even disclosed how much debt they have contracted yet you have people linking Moody’s to western propaganda, really, are some people that dull!!! The country will be in big trouble when these people running this manga manga govt start defualting on the debt… PF govt is made up of very untruthful people and covincted thieves and you expect miracles from this parliament of baboons. Dununa reverse for real taking us back wards and you fcukers danced!!!
The last time I checked I found that a USERESS tribal queen will NEVER be a president!
Zambia is being led by clueless mofos now KKIA ,mines ,toll roads and game parks will be Chinese assets due to PF’s bad economic management.
Ooh! Another economic milestone along a Junk street! Any prophet in our bus? When are we crashing?
These mouthpiece of the Western Imperialist alarming the world. Who doesn’t know that the West is under threat of China befriending Africa? John Magufuri, Tanzania’s President is on record that “he would rather borrow from China than from West because China’s loans come with less strings attached.” The West will not sit back and watch, so will unleash institution they have created to throw mad on China hopping the reversal of their dwindling fortunes.
MOODY is a world renowned organization, with a financial intelligence ten times stronger than zambia’s. They have a global reputation to safeguard, they can not worst there time smearing a poor country such as yours. They are able to track down all your inflows of cash and other sources of income and outflows with such accuracy you would think they had an office in your country. Even even when you financially support a terrorist group they will no about. They just give you, your financial standing as it is, whether it is junky you deal with it.
It is good always when they say a negative thing ANIMO FARM rates them higher when it is H-against them ANIMO FARM rants and doesn’t believe!
@mutulangoma, China a looking for land to export their population they will never tell your government that they corrupt as long as the gate what they want, because China are the world master of bribery, intellectual theft, copycat and other financial crimes. They can not account any one. But when your government is human right abuser, the west will tell you to change or they will starve your financially.
Ni Dununa “Lets Roll”
Looks like the clever people of the Zambian enterprise just got sold down the river by PF……the results of the northern province investment expo will be an interesting gauge to investment…
HAZALUZA HAGAIN! I am certain about it!
@ B R Mumba Sr. Modern management principles also call for management of perception. If moody says we in this position regarding our rating, what do we to do to improve our perception and close the gap. Let us do something as a country. Personally I do not agree with most things of what moody say about Zambia but I can tell you as well that most Zambians are trapped by moody and THEIR commentary is in fact a repeat of what moody and other western media say about Zambia. in todays fast paced society perception is everything. China the one giving the loans is also very secretive about their dealing and they do not help matters. We need to work on communication as a government to improve and empower everything regarding our dealing with china.
Moody’s is a disgraced Western economic agent, it’s part in the subprime fraud has yet to be punished. I read this article, pretty much it’s echoing Western concerns to Chinese money pouring into Africa beyond what they ever thought possible. This is making them irrelevant and to lose influence. The article all but admits that Moody’s doesn’t just have the facts to make an informed decision and their opinions on the effect and consequences Chinese loans are purely guesswork. That’s why Magufuli has said forget western money it’s tainted.
Moody reads HAKAINDE HICHILEMA! I am sure they also know that HH is a TRIBAL LEADER of the TONGA pressure group who has been losing elections for the past five times and he will lose HAGAIN for the sixth time to force him into retirement.
China is very strategic in thinking. By lending Africa these huge loans it has effectively guaranteed absolute access to our vast resources to the exclusion of other developed countries for generations to come. I has also ensured annual income from Africa in terms of repayments to keep its economy more or less stable.
Let’s roll then!
**It* has also ensured annual income from Africa in terms of repayments to keep its economy more or less stable.
THATS WHY PRINCE HARRY WANTS TO BRING 1000 ELEPHANTS.
THE PF WONT ACCUMULATE ANYMORE DEBT AND THE ELEPHANTS WONT BE EASY TO STEAL LIKE SOCIAL CASH TRANSFER
Young boy Harry is not bringing anything ..he is simply a figurehead for a wildlife NGO that wants to help Botswana tackle its elephant overpopulation sustainably instead of culling …if that problem was in Zambia PF crooks would have culled all of them like they doing to hippos.
The PRIVATISATION crook will never have an opportunity to cull because his is CHILDISH.
The Moody’s analysts are young Turks that sit on 5th Avenue in New York and most have never even traveled to Africa. Their lack of reliable economic data has resulted in most of their opinions being nothing but speculation. This is why some British tabloid confidently printed that Zambia has Zica, while sitting in their small London office with their ignorance, they have no clue. Zambians should learn to make up their own minds to see through such analytical rubbish. As long as Foreign Direct Investment and loans keep coming from the East the west will remain clueless on the terms and resort to mere speculation in their economic analysis
Moodys is another branch of the World bank and IMF. In the entire history of the IMF, all their structural reforms that that they have implemented especially in Africa have lamentably failed. The lend you peanuts and give you very unrealistic and hostile conditions such as structural Reforms especially in Africa. They deliberately keep referring to Africa as “Dark Continent” “Sh1t Hole Countries”,”poor countries”, “under developed countries”, “Third World countries” and recently African countries doing well are categorized as “Emerging Countries”! When you critically analyze these terms, they are meant to make Africans believe that indeed is as they depict it so that they can control the very same resources they lend it by sending the so called “Consultants”,…
Who do you think would want Africa not to develop? CHILDISH is duh
contd
When you critically analyze these terms, they are meant to make Africans believe that indeed is as they depict it so that they can control the very same resources they lend it by sending the so called “Consultants”, “Expatriates”!!! What they have been forgetting is that the same Africans have now been educated in the very Universities they attend. So the vicious propaganda against China is because Africans can now choose where it wants to borrow from! In case you didnt know, IMF and World Band need to survive like any other business but sadly for them, what used to be like easy meat has surely disappeared . A case of interest is the BREXIT comedy, just follow keenly and you will know what am talking about. There is nothing like African countries surrendering its assets to…
Contd
A case of interest is the BREXIT comedy, just follow keenly and you will know what am talking about. There is nothing like African countries surrendering its assets to China, the truth is business is hard with these guys called Moodys, IMF World Band etc. Show me one country where IMF has applied its restructuring reforms that is economically sound today, show me just one.
@Malinso I totally agree with you. Wish we had more Zambians with your tompwe blogging on this site
All these tribal grouping masquerading as having an interest in seeing Zambia develop have no TOMPWE! they are TRIBAL AND RACIST groups. I am glad we cannot risk voting such backward looking and evil-hearted people into power!
Fake news propagated by Satanists wanting to cause panic among the masses so that evil pipo that we know very well can rule. Oooooh u won’t move us to revolt against our government. Mwailasha. Let the Chinese seize American assets. The US owe China big time. In fact China is not like that. It’s just in the head of danderheads all over.
Exactly my brother Petros. This is imperialism looking to keep its foothold on Africa. We must only be indebted to them and noone else. Ati kupusa! Ati Global rating firm. Global yakuti. Its time the Third World got together and formed their own rating firms and banks
SATANISTS will NEVER take Zambia! Yes@Petros! You are right and Larry Mweetwa and HAZALUZA HAGAIN will lose HAGAIN.
Why have the Americans set aside 60 billion dollars for countries to borrow in competition with the Chinese?
Why is it also that the UPND like licking the West’s A$$?
Wow the same Moodys last month forecast a bright business future Zambia and the Upnd called it “Fake news “. Today the same group paints a gloomy picture for the country Upnd call it “True news “. Whether it’s true or false people should be constantly objective.
It is a paradox.A country with a lot of resources but in poverty.Is it the issue of mismanagement or luck of leadership?The effects of the two is corruption which permeates in all spheres of life.Poverty and other bad vices cannot thrive in an environment of prudence and frugality.We need leaders who can put resources where it matters most especially health,education and other salient social matters.Most of the resources go into bottomless pit of corruption.It does not reach the intended recipients.Where do you justify the building of houses for former presidents when the economical environment does not allow?The country is rich but we luck priorities in re-positioning of our natural resources.The nation can do minus getting debts from others countries.
“If HH comes into power Zambia will be like Germany and there will be no poor or poverty,” Hambaluso and Larry Mweetwa.
I guess it’s time to tell or remind some people,especially political leaders, that a brain is an App and must be put to good use! This country is sold am afraid,sad but true! There is a lot of secrecy in the the way the government is running the affairs of this country! Would you then come here and blame us for speculating?
When it is dung brain, I am afraid your suggestion can’t work because it can’t think! That can’t work!
They say what we know
Is just what they teach us;
And we’re so ignorant
‘Cause every time they can reach us
Through political strategy
@ Clavel
You know the story bro……
Bob Marley MHSRIP, saw this way before many did and is still happening today as he clearly wrote and sang in his song “Buffalo Soldier…. “When I analyze the stench, to me it makes a lot of sense, how the”….. Bob Marley knew exactly what he was talking about no wonder they …….
HH and UPND tweets must be very careful and ashamed of themselves for tarnishing the image of the country to these graduate flacks. If one hasnt been to the UK, yes he can be excused for their mediocre and ignorance, these guys live in very small and tiny blocks. You got to understand why they are annoyed because its really stressful and hard to live in diaspora. Just check how fake news is becoming a survival plan for them, anyway, how else can you describe them, çause they survive by creating news crisis, thats how they are paid. During Trump’s tenure of office, this when the world is coming to see the real world!!!! Its not as rosy as they would like you to believe on the screen!
China will lend us its money and we shall in turn get the very best of them and build on the skills they…
Eat while you can. One day you will not be able to defend this stupidity.
They read HH’s cohort tweets and made a story!
Moody’s give us an example of where such a thing has happened. Stop scaremongering because the commercial banks World Bank and IMF are losing business to China. Which country has lost its assets to China because of debt?
Clearly you dont read much…have you heard of Sri Lanka? Just Google “How China Got Sri Lanka to Cough Up a Port”
Jay Jay who wrote that story? It’s full of lies and you can’t see them? Then you are very one eyed
As much as China can be strategic in lending Zambia money , Zambian leaders should also be strategic in making sure that the money is put to good use. Borrowing cannot be a problem if the one borrowing has a proper plan for the money.Putting politics aside, I think it’s that when the government borrows the money , they invest the money in agriculture and manufacturing companies so that they can accumulate more money which can then be used for infrastructure and other things.For Zambia to develop we need leaders who have the mind of sacrifice and not leaders who are good at making themselves rich.The idea of voting for leaders is not about putting someone who knows how to talk but someone who can talk and think critically on how to put Zambia on the world map. We should not select leaders…
NO PROBLEM WE SHALL GIVE THEM ZAMBIAN WOMEN WHO PATRONIZE BARS KUMAELA
When will the Dollar Die?
Come on Moody’s, this is all very sour grapes. Trouble with Western finance sources is that they tend to interfere in local politics especially at election times. Look at IMF, that has been bouncing us about as a result of Zambian citizens opting for President Lungu over their choice of HH.
However the warning of borrowing as an economic solution is taken and we hope our current government take note to STOP borrowing.
According to sources the USA owed foreign countries $6.06 trillion among which China is the largest owner of this debt. If this is true why hasn’t Moody’s also given the same warning to America? Just asking.
What is the size of USA economy? Who sets interest rates for USA borrowing? Have you heard Zambia getting loan at 1.25%?
Surely you’re 5tupid. I asked an honest question and opt for sarcasm? Indeed you’re 5tupid.
“Sharon” even a pf00l acts wisely when he keeps quiet.
You Ha right! HAZLAUZA HAGAIN!
…and I’m sure pf dim wits will label this as “propaganda”; probably spread by HH
UNELECTABLE nimwe. Tribal.
“Zambia has surrendered state owned companies to China for failing to pay debt” Now Zambia risks assets seisure by Chinese” who pays these guys to write all this crap. Which assets is china going to seize if we have already sold all to china? Ma rabishi!
Apparently these credit rating clubs are so lazy that they base their innuendos on propaganda lies coming from unpatriotic Zambian liars. Just the other day one of them apologized for telling lies publicly.
LT where is my post?
These credit rating Agencies are just merchants of the devi.l trying to derail the progress the country is making. all they do is read propaganda from unpatriotic Zambians and boom a rating is out. Yaba!!
No return of money to the Chinese.
NO assets will be give.
They will have to write bv off all African nations
B R Mumba though I still call you Brave. It’s sometimes to try and reason with people with boils on their asses and cant see any other reason. They dont even know you came from an IV league with a masters in financial management. 90% are these children wete born after we had finished university degrees and were working. Dont waste your breath brother