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Zambia agrees with China Development Bank to defer debt repayments

Zambia has reached deal with the China Development Bank (CDB) to defer debt repayments that were due this month, Zambia's government said, without giving the size of the debt or the repayments that were due.

LUSAKA, Oct 28 (Reuters) - Zambia has reached deal with the China Development Bank (CDB) to defer debt repayments that were due this month, Zambia's government said, without giving the size of the debt or the repayments that were due.

"Under the terms of our agreement with CDB, interest and principal due on 25th October 2020 will be deferred. The deferred interest payment is now payable on 25th April 2021 and the deferred principal rescheduled over the life of the facility," the government said in a statement.

(Reporting by Chris Mfula Writing by Tim Cocks Editing by Alexander Winning)

((tim.cocks@thomsonreuters.com))

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