Lusaka, Zambia — The first test for African debt restructuring in a post-COVID world is playing out in Zambia, a land-locked country bigger than Texas, rich in copper and loaded with Chinese debt — and so poor that most of its population lives on less than $2 dollars a day.
Why it matters: If Zambia, China and international creditors cannot come to an agreement on how to restructure Zambia's debt, other African countries might get a glimpse of their fate. It's not pretty.
