Aerial photo taken on April 9, 2022 shows the Kenneth Kaunda International Conference Center in Lusaka, Zambia. Zambia on Tuesday commissioned an ultra-modern international conference center financed by China. The Kenneth Kaunda International Conference Center, with its main hall having a 2,500 sitting capacity, has been built to host the African Union (AU) mid-year summit this year.(Photo: Xinhua)

One day after the Zambian government refuted a Western media report that it does not support China's call for the World Bank and other multilateral lenders to join the country's debt restructuring, a spokesperson from China's Foreign Ministry said on Tuesday that China believes the Zambian government and people are clear about China's positive contribution to solving its arrears, as well as to the country's sustainable development.

"The African people have the most say in who are Zambia's real friends and who is sincerely helping African countries achieve development," said Wang Wenbin, the FM spokesperson.

According to a report of Xinhua News Agency on Monday, Zambian Minister of Finance and National Planning Situmbeko Musokotwane said that the headline of an article published by the Financial Times based on a recent interview with him does not accurately reflect his comments or Zambia's position.

The report hints that Musokotwane opposes to China's call for the World Bank and other multilateral lenders to participate in Zambia's debt restructuring.

Contrary to the Financial Times report, Zambia is in no position to reject any proposals between China and the World Bank, he said. The Financial Times later updated the story.

Wang said that Zambia's clarification statement showed the unbreakable mutual trust and traditional friendship between China and Zambia, which should "disappoint" those media that is anxious to see the world plunge into chaos.

He also noted that Zambia's debt restructuring requires mutual understanding, mutual trust and joint efforts of all stakeholders to find the best solution.

"China will continue to keep close communication and friendly negotiation with Zambia and other parties, while continue to play a constructive role in solving Zambia's debt problems.

According to a Reuters report, China and Chinese entities held $5.78 billion of Zambia's debt at the end of 2021. Zambia's external debt also includes $3 billion in international bonds and $2.1 billion owed to multilateral lending agencies such as IMF.

Wang cited Zambian government statistics as saying that Western creditors and multilateral financial institutions account for 70 percent of Zambia's external debt. They should take their responsibilities seriously and take actions to alleviate Zambia's debt burden, he said.

Global Times