Zambia's looming debt crisis - is China to blame?

Afrika Nå

Zambia only just over a decade ago had their debts written off by the IMF and the World Bank. However, the public debt in the country has increased significantly in the recent years, and concerns over a possible crisis have been aired. Some are blaming unsustainable Chinese loans and say that China is pursuing debt-trap diplomacy with the aim of taking over Zambia's strategic assets. Is China really the one to blame for the country's debt problems? And what role have IMF and the World Bank played in this regard? About 60 percent of the Zambian population live below the poverty line (http://www.global.no/landfakta/4036), and yet President Lungu bought himself a luxury jet in October for the humble price of NOK 400 million. What is the consequences of the lack of transparency in the financial sector in Zambia? And how does this affect the daily life for ordinary Zambians?