The International Monetary Fund (IMF) has welcomed the debt treatment agreement reached by Zambia and its official creditors under the G20 Common Framework. Managing Director of the IMF, Ms. Kristalina Georgieva has welcomed the announcement of an agreement being reached by Zambia and its official creditors under the Group of 20 Common Framework to restructure $6 billion debt of the country. “I warmly welcome Minister of Finance Situmbeko Musokotwane’s announcement that the Zambian authorities have reached an agreement with their official creditors on a debt treatment, consistent with the objectives of the IMF-supported program. This unique and innovative agreement specifies both a baseline and a contingent treatment that would be automatically triggered if the assessment of Zambia’s economic performance and policies improves,” said Ms. Kristalina Georgieva. As at end-June 2021, Zambia’s total public debt was USD equiv.

Source: Ethiopian News June 23, 2023 08:20 UTC