China Cancels Lesotho’s M214m loan, Eases Country’s Debt Burden

MASERU – Lesotho and China have intensified their alliance after signing an agreement to cancel part of Lesotho’s debt. The deal was signed on Thursday in Maseru. Finance and Development Planning Minister Dr. Rets’elisitsoe Matlanyane signed on behalf of the Lesotho government while China’s Ambassador to Lesotho, Yang Xiaokun, signed for the Chinese government. Under the new protocol, China will disregard two interest-free loans worth a total of M214.466 million. The loans were supposed to be paid back by the…Continue reading with a subscriptionSubscribe for full access to every story.Subscribe - M85/monthAlready a subscriber? Sign in Advertisement ...