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JESUIT CENTRE FOR THEOLOGICAL REFLECTION
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Community Welfare

CSO DEBT ALLIANCE PRESS STATEMENT.  OVER SIXTY PERCENT OF ZAMBIA’S EXTERNAL DEBT MUST BE CANCELLED OR THE NATION WILL NOT RETURN TO DEBT SUSTAINABILITY

2/4/2022

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In December, the International Monetary Fund (IMF) and the Zambia Government reached a Staff Level Agreement for a three-year Extended Credit Facility amounting to USD1.4 billion. A Staff Level Agreement was followed by Zambia’s’ request for a debt treatment under the G20 Common Framework. Zambia is currently negotiating a restructuring of its debt with private and government creditors through the G20’s new Common Framework. The Zambian Government is in the process of engaging with bilateral or official creditors, multilateral, and private creditors. Lenders will have to agree to some level of common consensus for the debt restructuring process for Zambia to bear fruits. However, the variation in the types, and nature of Zambia’s debt attracts complexities in arriving at a unanimous decision that will see the process going forward. Read More>>>
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    Categories

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    February 2022
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JESUIT CENTRE FOR THEOLOGICAL REFLECTION
Physical Address: 3813 Martin Mwamba Road, Olympia Park
Postal Address: P.O Box 37774, 10101 Lusaka, Zambia
 Tel: +260 211 290410 | Fax: +260 211 290759 |©  JCTR 
2022  
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