Local employees attend a training session via VR devices at NFC Africa Mining Plc (NFCA) in Kitwe, Zambia on June 3, 2024. (NFCA/Handout via Xinhua)
China has been a major financier of infrastructure development in Africa in the last 10 to 15 years as evidenced in many infrastructure projects, a Zambian economist said.
LUSAKA, Sept. 11 (Xinhua) -- China is a key partner in developing countries' recovery from the COVID-19 pandemic, a Zambian economist said.
When COVID-19 hit the world and caused the global economy to contract, Western countries resorted to pouring "free money" into markets, causing inflation surges and economic turmoil, said Trevor Hambayi, a PhD research fellow with the University of Bolton, in a recent interview with Xinhua.
"So the current position that we have, I think, is driven by the funds that were released, and it has brought inflation," Hambayi said.
China has been a key financier of infrastructure development in Africa in the last 10 to 15 years as evidenced in many infrastructure projects in different parts of the continent, he said.
The expert said China has done much to help African countries with debt restructuring, as showcased in China's role as co-chair of the creditors committee on Zambia's debt restructuring.
Meanwhile, the economist urged developing countries to protect the interest of their sovereignty and their people instead of falling into the traps of the American imposition of ideologies.
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