Zambia Becomes the Third Victim of the CCP’s Belt and Road Debt Trap

After Sri Lanka and Pakistan, Zambia, the third country in the Belt and Road Initiative (BRI) to face a debt crisis, has a foreign debt of US$17.3 billion, of which the Chinese Communist Party (CCP) is the largest creditor.

The CCP asked the IMF (International Monetary Fund) to approve $1.4 billion emergency loans, but the IMF responded by calling on Communist China, the largest creditor, to help relieve Zambia’s debt, before asking IMF for loans. The South China Morning Post reported that Zambia was heavily indebted and in November 2020, and became the first African country to default on USD-denominated bonds during the pandemic. Debt relief from the G20 and its largest creditors is being sought through a new common framework of G20. According to statistics, Zambia’s foreign debt is as high as $17.3 billion, and Communist China is the largest creditor, and the money was mainly invested in large-scale infrastructure such as Zambia’s airports, highways and hydropower dams, which exceeds $6 billion.

Miles once said in a livestream, that “believe in the CCP and it will lead you into the crematorium”, any cooperation the CCP provides to the world is based on the deep oppression of the Chinese people, and it is fundamentally unsustainable and unsafe. Only by destroying the CCP can the world get rid of trouble and chaos.

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Translator: OXV Translation Team – Ganen
Design&editor: HBamboo(昆仑竹)

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