Zambia's Looming Default Is Only the Start of a Global Reckoning With Debt.

The article informs that Zambia's government suspended interest payments on some sovereign bonds and, loans from bilateral creditors especially China. It further discusses its economy in trouble from a high public debt burden as well as the COVID-19 pandemic; interest payments on its debt had become quite substantial, analogous to charges on a high-interest rate credit card; and with low interest rates, emerging and frontier markets offered private investors opportunities for higher returns.