Zambia agrees foreign debt deal
Government agrees to repay faster if IMF assesses its ability to do so has risen
Zambia’s government has reached agreement with its official creditors to restructure its foreign debt, it announced on June 22.
The deal paves the way for Zambia to unlock a new tranche of funding from the International Monetary Fund.
The settlement will allow the country to restructure $6.3 billion in debt, according to media reports. Zambia first defaulted on its external debt in November 2020.
Bank of Zambia figures put external debt at 48.6% of GDP in 2022, down from 61.2% the year before
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Debt Management
Book notes: Default: the landmark court battle over Argentina’s $100 billion debt restructuring, by Gregory Makoff
Required reading amid current high sovereign debt, global tensions and the urgent need for climate finance
Sri Lanka secures deal to restructure $12.6bn of bonds
IMF still to review if deal conforms with Sri Lanka’s debt sustainability targets
Sri Lanka signs debt restructuring deals
Government reaches agreement with 17-nation group and China’s Exim bank
Sri Lanka considers new bonds linked to GDP and governance
Restructuring debt could link repayments to anti-corruption reforms
Pakistan repays bonds worth $1bn as it seeks fresh IMF loan
Debt-stricken country looks to secure about $6 billion in loans
BCRA ex-governor Caputo will be Argentina’s economy minister
Central bank halts sales of devaluation hedge bonds
IMF members will meet SDR interest payments, says paper
Fund publication notes interest rates on SDR rose sharply in last two years
Tunisian president wants central bank to directly finance budget
Central bank governor has rejected calls for monetary financing as observers warn of growing crisis