How China, COVID-19 and investors pushed Zambia into debt default | Counting the Cost

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The video item below is a piece of English language content from Al Jazeera. Al Jazeera is a Qatari state-funded broadcaster based in Doha, Qatar, owned by the Al Jazeera Media Network.

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  • Al Jazeera English published this video item, entitled “How China, COVID-19 and investors pushed Zambia into debt default | Counting the Cost” – below is their description.

    The G20 nations, made up of the world’s biggest economies, struck an historic agreement on restructuring debt for some of the world’s poorest nations. It goes beyond the current deal to freeze debt repayments until June of next year. It is significant because it includes China, which has been reluctant to sign up to any deal that would cancel or restructure debts. Despite the deal, Zambia has defaulted on its debt. Plus: Extraordinary times call for extraordinary measures. We explain why central banks are thinking about introducing negative interest rates. And, Brazil drops out of the ranking of the top 10 economies. –

    Al Jazeera English YouTube Channel

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    In This Story: Brazil

    Brazil is the largest country in both South America and Latin America.

    Its capital is Brasília, and its most populous city is São Paulo. The federation is composed of the union of the 26 states and the Federal District. It is the largest country to have Portuguese as an official language and the only one in the Americas, as well as the most populous Roman Catholic-majority country.

    Its Amazon basin includes a vast tropical forest, home to diverse wildlife, a variety of ecological systems, and extensive natural resources spanning numerous protected habitats. Brazil is classified as an upper-middle income economy by the World Bank and a newly industrialized country.

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  • In This Story: COVID-19

    Covid-19 is the official WHO name given to the novel coronavirus which broke out in late 2019 and began to spread in the early months of 2020.

    Symptoms of coronavirus

    The main symptoms of coronavirus are:

    • a persistent new cough (non productive, dry)
    • a high temperature (e.g. head feels warm to the touch)
    • shortness of breath (if this is abnormal for the individual, or increased)

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  • In This Story: Zambia

    Zambia, in southern Africa, is a landlocked country of rugged terrain and diverse wildlife, with many parks and safari areas. On its border with Zimbabwe is famed Victoria Falls – indigenously called Mosi-oa-Tunya, or “Smoke That Thunders” – plunging a misty 108m into narrow Batoka Gorge. Spanning the Zambezi River just below the falls is Victoria Falls Bridge, a spectacular viewpoint.

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