{"id":11749,"date":"2021-10-09T16:46:38","date_gmt":"2021-10-09T16:46:38","guid":{"rendered":"http:\/\/goodmorningkenya.com\/wp\/?p=11749"},"modified":"2021-10-09T16:46:42","modified_gmt":"2021-10-09T16:46:42","slug":"china-will-soon-auction-zambias-port-to-recover-12-billion-usd","status":"publish","type":"post","link":"https:\/\/goodmorningkenya.com\/wp\/?p=11749","title":{"rendered":"China will soon auction Zambia&#8217;s Port to recover 12 billion USD."},"content":{"rendered":"\n<p>Zambia\u2019s new government has revealed that the country owes Chinese lenders more than $6bn (\u00a34.4bn).<\/p>\n\n\n\n<p>Since the defeat of President Edgar Lungu in August there has been a lot of speculation around the country\u2019s debts.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"500\" src=\"http:\/\/goodmorningkenya.com\/wp\/wp-content\/uploads\/2021\/10\/new-president-elect-of-zambia.jpg\" alt=\"\" class=\"wp-image-11751\" srcset=\"https:\/\/goodmorningkenya.com\/wp\/wp-content\/uploads\/2021\/10\/new-president-elect-of-zambia.jpg 1000w, https:\/\/goodmorningkenya.com\/wp\/wp-content\/uploads\/2021\/10\/new-president-elect-of-zambia-300x150.jpg 300w, https:\/\/goodmorningkenya.com\/wp\/wp-content\/uploads\/2021\/10\/new-president-elect-of-zambia-768x384.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><figcaption>The new President of Zambia, Hakainde Hichilem.<\/figcaption><\/figure>\n\n\n\n<p>The new President, Hakainde Hichilema, confirmed that he had inherited an &#8220;empty&#8221; treasury and that the debt situation had not been &#8220;fully disclosed&#8221; by the former government.<\/p>\n\n\n\n<p>For the first time since 1998, Zambia plunged into a recession last year. It also defaulted on a debt repayment.<\/p>\n\n\n\n<p>A recent study by the US-based China Africa Research Initiative suggested that the amount owed to China was nearly double what had been revealed by the Lungu government.<\/p>\n\n\n\n<p>That has now been confirmed by the Zambian authorities themselves. Overall, the country now owes a total of $14.5bn to its creditors.<\/p>\n\n\n\n<p>The country has been talking to the International Monetary Fund about restructuring the debt.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Zambia\u2019s new government has revealed that the country owes Chinese lenders more than $6bn (\u00a34.4bn). Since the defeat of President Edgar Lungu in August there has been a lot of speculation around the country\u2019s debts. The new President of Zambia, Hakainde Hichilem. The new President, Hakainde Hichilema, confirmed that he had inherited an &#8220;empty&#8221; treasury &hellip;<\/p>\n","protected":false},"author":1,"featured_media":11750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=\/wp\/v2\/posts\/11749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11749"}],"version-history":[{"count":1,"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=\/wp\/v2\/posts\/11749\/revisions"}],"predecessor-version":[{"id":11752,"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=\/wp\/v2\/posts\/11749\/revisions\/11752"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=\/wp\/v2\/media\/11750"}],"wp:attachment":[{"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}