Belt and Road Victim Zambia Sees Finances Implode After Early Pension Payout

The Zambian government passed a law on April 17 that allows citizens to cash out up to 20% of their pensions early. The resulting hit to government finances as claimants raced to pull some $300 million out of the National Pension Scheme Authority (NAPSA) is threatening to topple Zambia’s finances, and endangering a debt relief deal it has been working on since 2020.

Chinese President Xi Jinping (Left) meets Zambia's President Edgar Chagwa Lungu (Right) at