IMF chief: it’s time for creditors to restructure Zambia debt

LUSAKA, Zambia – International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday during a visit to Zambia that it was the time for the southern African country’s creditors to restructure its debt as it was doing its part by implementing economic reforms.

Zambia defaulted on its sovereign debt in 2020, becoming the first African country to do so during the Covid-19 pandemic.

Georgieva has pushed hard for quicker movement on debt relief for countries like Zambia.

On Monday at a meeting with Zambian President Hakainde Hichilema she commended his government for moving away from wasteful expenditure and said the IMF would like to work with Zambia to boost its economic growth. – Reuters

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