Zambia News

Country Closes In On Debt Deal

Zambia’s debt restructuring is about to reach an agreement, according to FELIX NKULUKUSA, secretary of the Treasury.

The statement by Mr. NKULUKUSA follows news that Zambia will probably sign a Memorandum of Understanding with its formal creditors next week, according to World Bank President DAVID MALPASS.

Speaking during a panel discussion at the World Bank and IMF’s ongoing Spring Meetings in Washington, D.C., Mr. NKULUKUSA said China and the IMF had been helpful in bringing the common framework to an end.

According to Mr. NKULUKUSA, there is a lot of information exchange that is raising hopes for a deal.

He continues by saying that whenever Zambia enters into a deal with its creditors, it will serve as a model for other nations that are traveling the same path.

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