Zambia's Finance Minister Situmbeko Musokotwane attends the Annual Meetings of the International Monetary Fund and World Bank in Washington, US, October 15, 2022.Zambia's Finance Minister Situmbeko Musokotwane attends the Annual Meetings of the International Monetary Fund and World Bank in Washington, US, October 15, 2022.
“I don’t know at this particular moment,” he said, when asked who represents China on the official creditors committee. Musokotwane said negotiating with bilateral creditors including China before private creditors had “worked fairly well”, but acknowledged there had been complaints from international investors who hold the country’s sovereign bonds.Zambia secured a three-year $1.3 billion loan from the IMF in September. It is now seeking a present value $6.3 billion debt reduction, or 49% of the external debt being restructured. Some bondholders had previously said a 45% cut would be unacceptable.
Zambian grain exports could help to address shortages caused by Russia’s invasion of Ukraine, Musokotwane said, adding that the government was hoping to host an overseas agriculture investors forum in the middle of 2023.
Crying for just 6 billion. Mr Phala Phala borrowed above 500 Billion of it from USA. now he wanna sell Eskom to pay his debts. His kind from the UK want to make sure that goes smoothly
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