From Zambian Economist, a blog by Chola Mukanga, comes a new post titled Debt Watch (China), 4th Edition?
[quote]The Government has entered into yet another debt deal with China. This week Alexander Chikwanda received an economic and technical cooperation grant agreement (free money) amounting to US$7m and then proceeded to borrow US$10m on top. We are told the the money will be used “in the fight against poverty and projects to be agreed upon by the two governments”. So we are borrowing money that we do not even know where its going to be used? One assumes that China would have been content just to give the US$7m without lending the extra.[/quote]
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