What happens if Zambia defaults on its debt to China and other lenders?

The COVID-19 pandemic has put a financial strain on a lot of countries across the world.

One of those countries is Zambia. The country has had financial issues before Covid-19, but the effects of the pandemic have not made things any easier.

The situation has reached the point where Zambia may default on its debt – essentially failing to pay instalments on bonds issued by the government which are held by banks.

Why is this bad for Zambia, and how could this affect the rest of the continent?

Video by Jameisha Prescod.

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