Zambia president: focused on finishing debt negotiations by end March 2023
Published on: Tuesday 20 December 2022
Zambia has agreed to the principles of debt restructuring with its creditors and is focused on signing an agreement on its terms with them by the end of March 2023, President Hakainde Hichilema said on Tuesday. Zambia's government is now also focused on reducing debt and freezing interest, as it bids to finish the restructuring process and sign a Memorandum of Understanding with creditors, Hichilema said in response to questions at a media briefing. Zambia became the first African country to default in the COVID-10 era in 2020 and the restructuring of its external debts of almost $15 billion with creditors including China and Eurobond holders has been a much-delayed process.
