Zambian central bank considering debt swaps to build reserves.
M2 EQUITYBITES-February 21, 2019--Zambian central bank considering debt swaps to build reserves
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Global Banking News - 21 February 2019
The Zambian central bank is said to be considering China debt swaps in order to build its reserves.
The apex bank could ask China to convert its dollar loans intended for the nation to renminbi loans. The move comes after the nation's foreign-currency reserves dropped to their lowest levels this decade.
Zambia's external debt almost doubled to USD9.5bn in September, from USD4.8bn in 2014 following infrastructure spending.
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