Looming default Zambia has long-running economic problems, but the exacerbating force of COVID-19 has led it to suspend debt service payments to external commercial creditors, and now the southern African country seems likely to default if it does not make progress toward an IMF-backed reform package. That would make it the first country to default on its debts since the pandemic struck. A lot of Zambia's debt is Chinese, too, which raises the chances of a strategic or geopolitical Chinese bailout. CNBC
Another victim of debt-trap diplomacy. https://asia.nikkei.com/Politics/In...s-loans-to-68-nations-further-tightening-grip https://www.wionews.com/south-asia/...ri-lanka-are-not-driven-by-benevolence-335053
Sometimes, we get the money for free. https://www.thecrimson.com/column/for-sale/article/2020/10/19/hava-the-other-chan/