Zambia close to debt deal with creditors, IMF chief bullish

Zambia had reached an agreement in principle with its creditors, which include China and Western nations, on $6.3 billion of its debt in June, but it had yet to be finalised.

A memorandum of understanding with Zambia creditors “has finally been signed”, International Monetary Fund Managing Director Kristalina Georgieva said at the IMF-World Bank annual meeting in Marrakesh, Morocco.Georgieva made the announcement at a panel discussion on tackling debt around the world, which also featured Zambian Finance Minister Situmbeko Musokotwane.

“From Managing Director Kristalina’s mouth to god’s ears, the MoU will hopefully be signed next week, we are very close to finalisingGet unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.

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