ZAMBIA DEFENDS TIES WITH CHINA AMID DEBT-ASSET SWAP CLAIMS

Zambian President Edgar Lungu.

Zambian President Edgar Lungu has defended his country’s ties with China amid reports that some parastatals have been offered as collateral for Chinese loans.

“Our friendship with China is mutual and no amount of malicious propaganda will deter us from the opportunities that lie in what we share," he told MPs in Parliament on Friday.

"I urge everyone to remain focused and not be moved by the ongoing mischaracterised information suggesting that our friendship with China suggest colonialism," he said, adding that "China has never been known for such!”

On Thursday, Finance Minister Margaret Mwanakwate dismissed media reports that Zambia was offering its electricity firm, broadcaster, and the Kenneth Kaunda International Airport to China as security against loans.

“The Zambian Government has not offered any state-owned enterprise to any lender as collateral for any borrowing,” Ms Mwanakatwe said.

She also dismissed claims that the government was exploring debt/asset swap options.

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