last month with official bilateral creditors to rework about $6.3 billion of overseas debt with Paris Club members and China, among others.
Zambia also aims to sign a memorandum of understanding with its bilateral creditors by the second review, central bank governor Denny Kalyalya told a separate media briefing on Friday. The expected figure is lower than the $8.4 billion debt relief the IMF said in September that Zambia needed, which bilateral creditors including China and international bondholders had challenged.
Zambia, whose external debt reached $20.9 billion at the end of 2022, was the first African country to default on its sovereign debt in 2020 during the COVID-19 pandemic, and faced lengthy delays in restructuring negotiations.
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