Zambia, has decided to temporarily suspend interest payments to private creditors as it struggles to contain the economic fallout of the coronavirus crisis. President Edgar Lungu’s government has suspended them for six months, starting from October. Even though it is a freeze due to a cash-crunch and not a cancellation, in the world of finance, it is being seen as a debt default. Zambian leaders were conflicted on the question of whether to continue paying wealthy foreign investors or take care of their people. This week they decided to focus on facing the coronavirus crisis.
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