Zambia denies White House claim China taking over power utility

[Eugene]

Source: Reuters

WORLD NEWS DECEMBER 15, 2018 / 11:54 AM / UPDATED AN HOUR AGO

Zambia denies White House claim China taking over power utility

LUSAKA (Reuters) - Zambia has denied claims by a White House official that China is about to take over its state power utility to recover $6-10 billion debt, noting the utility was never provided as collateral and its debt to Beijing was only $3.1 billion.

U.S. National Security Advisor John Bolton said on Thursday that China’s quest for more power in Africa was evident in nations like Zambia, and China was poised to take over Zambia’s utility company Zesco to collect the debt.

Zambia’s presidential spokesman Amos Chanda told Reuters the figure of between $6-10 billion given by Bolton was wrong. Zambia’s total external debt was now $9.7 billion including $3.1 billion owed to China, he said.

“It is regrettable that such information can come from such a high-ranking official. In fact, Zesco is not within the scheme of Zambia’s debt to China,” he added.

-snip-

Read more: https://www.reuters.com/article/us-zambia-economy/zambia-denies-white-house-claim-china-taking-over-power-utility-idUSKBN1OE0LD

[underpants]

1. On the bright side Bolton was only wrong on both parts

So, there's that.

[keithbvadu2]

2. Maybe it was Trump's Nambia?

Maybe it was Trump's Nambia?