Zambia on track for debt restructuring next quarter -finance minister

Zambia is pushing hard to complete the restructuring of nearly $15 billion of external debt in the first quarter of 2023 and is “in active engagement” with its largest bilateral creditor China, Zambia’s finance minister said in an interview at the Reuters NEXT conference. Zambia defaulted on its sovereign debt in 2020 and the current

The Switzerland of Africa: New Exciting Investments Destination for Investors

By Yohane Mbeeya Moono Switzerland like Zambia is a landlocked country in the heart of Europe. Switzerland is a peaceful haven for most asylum seekers. This because the country once provided the Jews who fled from the holocaust of Adolf Hitler a safe haven. It is also home to many multinational organisations such as the

All Weather Friend -China

The Director General African Affairs, for the People’s Republic of China, Mr Wu Peng, who is in Zambia with a message from His Excellency President Xi Jinping. China and France yesterday chaired IMF Common Framework meeting on Zambia’s debt situation. Zambia needs to be unlocked so that her economy can be opened up to more

THE DEBT RESTRUCTURING PROCESS AND THE IMF SUPPORTED PROGRAMME

Lusaka, Sunday, 19th June 2022 – In light of public statements by certain sections of society on the status of the International Monetary Fund (IMF) Supported Programme and the debt restructuring process, the Ministry of Finance and National Planning considers it necessary to clarify on some matters of concern and on others that have been

CHINA OFFERS TO CO-CHAIR ZAMBIA’S DEBT RESTRUCTURING AS ECONOMIC REBUILDING GATHERS PACE.

By Alexander Nkosi China has offered to co-chair Zambia’s debt restructuring, a very positive move given the huge amount Zambia owes China. Once our debt is restructured, it will unlock a lot of benefits that include: 1. Reduce the amount we spend on debt service. In 2022 budget, USD3 billion (K51 billion) has been allocated