Zambia seeks $8bn relief on debts to Chinese lenders

Zambia is asking for more than $8bn of relief on its debts to Chinese lenders, private bondholders and other creditors, according to an IMF analysis, in a restructuring widely seen as a test of Beijing’s willingness to absorb losses on loans it has extended to developing countries.

After securing an IMF bailout last week, Zambia plans to reduce its debt payments by $8.4bn over the next three years, according to a fund analysis that…