Africa-Press – Zambia. SECRETARY to the Treasury Felix Nkulukusa says government is aiming to conclude the remaining $1.3 billion debt restructuring negotiations by September this year.
In an interview with Phoenix News, Mr. Nkulukusa however says the targeted timeframe will largely depend on the willingness of creditors to participate in the restructuring process.
He has noted that the only disincentive for creditors delaying the process is that government will not service debts that are yet to be agreed upon under the restructuring framework.
Mr. Nkulukusa also highlighted that, much like during the Highly Indebted Poor Countries -HIPC- initiative, not all creditors may be willing to participate in the restructuring but is hopeful that all stakeholders will come on board to ensure the talks are successfully concluded.
Zambia has been engaged in protracted debt restructuring efforts following its default in 2020, as the country seeks to restore debt sustainability and boost investor confidence.
For More News And Analysis About Zambia Follow Africa-Press
