The analogy of Zambia as the “Cinderella of Africa” is a bit simplistic, but it does capture some of the challenges that the country has faced in recent years. Zambia is a resource-rich country, but it has been struggling to manage its debt. In 2020, Zambia’s debt-to-GDP ratio was over 120%, and the country was on the verge of defaulting on its loans.
China has been a major lender to Zambia in recent years, and some critics have accused China of predatory lending practices. However, it is important to note that China is not the only country that has lent money to Zambia. The IMF and the World Bank have also been major lenders to Zambia, and they have also been criticized for their lending practices.
The recent debt restructuring deal with Zambia’s creditors is a positive step forward, but it is important to note that Zambia’s economic problems are not over. The country still faces a number of challenges, including high unemployment, poverty, and corruption.
It is too early to say whether Zambia will be “saved” by the Western prince. However, the recent debt restructuring deal is a sign that Zambia is on the right track. If the country can continue to implement sound economic policies, it has the potential to become a leading economic power in Africa.
In terms of the analogy, I would say that Zambia is more of a “Cinderella in progress” than a “Cinderella” who has already been saved. The country has faced some challenges, but it is making progress. It remains to be seen whether Zambia will be able to overcome all of its challenges, but I believe that the country has the potential to succeed.