LUSAKA, Jan 24 ― US Treasury Secretary Janet Yellen said yesterday during a visit to Zambia that it was critically important to restructure the country's debt, and she believes progress could be made after her frank talks with key creditor China last week.
“I specifically raised the issue with Zambia and asked for their cooperation in trying to reach a speedy resolution. And our talks were constructive,” Yellen said. Yellen said she was keen to continue talks with Musokotwane and other Zambian officials about the country's “impressive progress” on economic reforms, and how regional economic integration and deepening trade ties could support the country's growth.
During a meeting with President Hakainde Hichilema, who took charge in August 2021, Yellen told the Zambian leader a debt treatment deal under the Common Framework was “overdue”.
Borrow ler from China 🇨🇳 why borrow also mind boggling for a nation rich in copper