Brazilian Senate approves $90.7 million debt relief to ZambiaStaff Writer | November 5, 2016
The Senate of Brazil has approved up to $90.7 million or 80% of the $113.4 million debt which Zambia owed the South American Economic Giant as at July 31, 2011.
For Africa The International Affairs Secretariat:
“The Brazilian Senate has agreed that the outstanding debt of $113.4 million which Zambia owed should be treated through a special bilateral arrangement whereby 80 percent will be cancelled while 20 percent should be repaid,” read the statement. ■