And zambia has been seen by many as a test case for how well the common framework works. But despite protracted negotiations, the zambia Debt Relief Deal has collapsed, raising doubts about the workability of the common framework. Zambias president hakainde hichilema, who inherited a huge Debt Overhang when he was elected in 2021 has been spearheading efforts to get the countrys economy back on track. I spoke to the zambian president in an exclusive interview and began by asking him about the economy. I think we did our part as a country in terms of meeting our obligations. We did that well ahead of time. Now it is for the other part of the stick to come on board. The bilateral creditors, i think we are doing reasonably well. Delayed . Yes, it was delayed. But the private creditors, we now need to close and put this to bed so that it can create the headroom we needed, we anticipated long before. But these delays are beginning to negate the gains that we already made as a country in our
Always a pleasure to see you. This is a company that almost collapsed two years ago. Why is it filing for bankruptcy in the United States . I think it is a legal move. The Debt Restructuring Talks were already going on with hong kong, cayman islands, word has holding companies. The advantage for evergrande to file for bankruptcy in america is a gives it some protection against us creditors for the duration of that Court Process. I5 creditors for the duration of that Court Process Court Process. Is there a lot of exoosure Court Process. Is there a lot of exoosure for Court Process. Is there a lot of exposure for foreign Court Process. Is there a lot of. Exposure for Foreign Companies Court Process. Is there a lot of exposure for Foreign Companies here . I think there is a certain amount of exposure. There are enormous amounts of debts, large amounts of the offshore bonds have lost their value and i believe many of the less risk taking investors already sold their offshore bonds a couple
a very warm welcome to talking business weekly with me, aaron hazelhurst. let s go take a look at what s on the show. the big china challenge. a year since the covid 19lockdowns. as the biggest economy back to full health. ongoing trade tensions with the us are some of the problems government is trying to tackle. this leading china economist will explain how the government needs to balance ambitions of the changing demand of a radically different younger generation if it wants the country to thrive. plus this former head of the international monetary fund china division tells me how beijing struggles are affecting all of us around the world. and keeping the internet free and fair. the big boss of web browser firefox tells me how her foundation is trying to compete with the deep pocketed rivals like google and apple and still have an influence. wherever you arejoining me from around the world warm welcome. china, s second biggest economy a trouser united states and is more th
around the world and keeping the internet free and fair. the big boss of web browser, firefox, tells me how herfoundation is trying to compete with the deep pocketed rivals like google and apple and still have an influence. wherever you rejoining me from around the world. once again, a big hello and a warm welcome to the show. china it s the world s second biggest economy. it trails only the united states and is more than four times the size of the next on the list, japan. so what happens there certainly matters. but a year since the government abandoned coronavirus lockdowns, it s an economy that s still struggling. the challenges for president xi jinping s government include vast debts in the property market and local government, soaring youth unemployment, an ageing workforce and ongoing trade tensions with the united states. his government set a target of around 5% for economic growth this year. it was the lowest in decades, and some say that was deliberate, but it will