Africa-Press – Zambia. FINANCE National Planning Minister Dr. Situmbeko Musokotwane says Zambia’s 100% debt restructuring deal is not guaranteed despite reaching 94% progress, as the remaining 6% presents very difficult cases.
Dr. Musokotwane explains that the bulk of creditors have agreed to a common restructuring formula, but a small group has taken a different position, delaying full consensus.
He says the 6% of creditors who have not signed want alternative terms and have not accepted the settlement formula agreed by the majority, thereby complicating the deal.
The minister notes that negotiations are ongoing to bridge outstanding differences, but that no timetable can be given for the conclusion of the process.
Dr. Musokotwane adds that offering special concessions to the holdouts could undermine the commitment of other creditors and jeopardize the fairness of the arrangement, hence the government is seeking a compromise that balances the interests of all parties without disadvantaging the majority that have cooperated.
For More News And Analysis About Zambia Follow Africa-Press
