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Showing posts from September, 2021

The House She Built a Source of Conflict

There was a time when everything seemed to be going right for Amara . She was a beautiful woman, not only in appearance but in the way she carried herself. She grew up in a loving home, surrounded by parents who worked hard and believed that their children should never lack opportunities. Her father was a respected man who worked tirelessly to provide for the family, while her mother was equally hardworking. They raised their daughters with discipline, kindness, and the belief that education and hard work were the keys to a good life. Amara was the elder daughter. Her younger sister, Nadia , was also intelligent and ambitious. The two sisters grew up watching their parents work together, and they learned an important lesson from them: nothing worthwhile comes without sacrifice. As the years passed, both sisters became successful in their own ways. Amara worked hard, saved her money, and eventually achieved something she had dreamed about since she was young. She bought a beauti...

Zambia’s Chinese debt nearly twice official estimate, study finds

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  Copper-rich Zambia became Africa’s first coronavirus-era sovereign default last November. By  Helen Reid, Reuters   28 Sep 2021   11:33  Waldo Swiegers/Bloomberg Zambia’s debt to Chinese public and private lenders is $6.6 billion, almost double the amount disclosed by the previous Zambian government, an analysis of loan data by the China Africa Research Initiative (CARI) has estimated. Copper-rich Zambia became Africa’s first coronavirus-era sovereign default last November and its ongoing debt restructuring has become a test case of Western multilateral efforts for countries to fully disclose their borrowings. Zambia’s previous government led by Edgar Lungu said its Chinese debt stood at $3.4 billion. But the estimate published by CARI on Tuesday chimes with recent comments from newly-elected President Hakainde Hichilema, who took office last month, that the debt load is likely higher. The country’s international creditors, which the government is in talk...

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