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Zambia in touch with China, other creditors, finance minister says

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JOHANNESBURG: Zambia remains in touch with China and all its other creditors as it continues to negotiate a debt restructuring, finance minister Situmbeko Musokotwane said at an International Monetary Fund press conference on Saturday (Oct 15). There is no alternative for Zambia, the first African country

JOHANNESBURG: Zambia remains in touch with China and all its other creditors as it continues to negotiate a debt restructuring, finance minister Situmbeko Musokotwane said at an International Monetary Fund press conference on Saturday .

Zambia secured a US$1.3 billion, three-year loan from the IMF in September. It is now seeking a present value US$6.3 billion debt reduction, or 49 per cent of the external debt being restructured, a level some bondholders have said would be unacceptable.

 

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