{"id":19213,"date":"2022-03-27T20:01:27","date_gmt":"2022-03-27T20:01:27","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-creditors-to-meet-soon-to-form-debt-committee"},"modified":"2022-03-27T20:10:06","modified_gmt":"2022-03-27T20:10:06","slug":"zambia-creditors-to-meet-soon-to-form-debt-committee","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-creditors-to-meet-soon-to-form-debt-committee","title":{"rendered":"Zambia creditors to meet soon to form debt committee"},"content":{"rendered":"

Africa-Press – Zambia. <\/strong><\/span>Zambia\u2019s creditors are in the next few weeks expected to form a committee to examine the sustainability of the nation\u2019s debt and determine the amount of relief they are willing to offer, Finance Minister Situmbeko Musokotwane said on Friday.<\/p>\n

\u201cWe anticipate that the official creditor committee will be formed within the next few weeks, paving the way for the restructuring discussions,\u201d Dr. Musokotwane said in parliament.<\/p>\n

The discussions on Zambia\u2019s debt, at 120% of GDP, are expected to culminate in creditors providing financial assurances to the International Monetary Fund (IMF) for the approval of a $1.4 billion extended credit facility, he said.<\/p>\n

In 2020, Zambia became the first country to default in the pandemic era, buckling under a debt burden that rose to $31.74bn at the end of 2021, 17% higher than six months earlier.<\/p>\n

Although the committee would comprise bilateral creditors, Dr. Musokotwane said commercial creditors would also be invited to provide relief to Zambia to ensure burden-sharing.<\/p>\n

\u201cEverything is going according to plan,\u201d Dr. Musokotwane said, adding that the Debt Sustainability Analysis (DSA), which forms the basis of restructuring plans, had been completed.<\/p>\n

Musokotwane told Reuters in February that he hoped the DSA would be finished by the end of the month and that Zambia would reach an understanding with creditors in March or April, which would then pave the way for a formal IMF agreement by May.<\/p>\n

That timeline was deemed ambitious by analysts, given that the creditor committee had not yet been formed. Dr. Musokotwane told parliament the government was aiming for an IMF deal \u201cby the middle of this year\u201d.<\/p>\n

For More News And Analysis About Zambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zambia. Zambia\u2019s creditors are in the next few weeks expected to form a committee to examine the sustainability of the nation\u2019s debt and determine the amount of relief they are willing to offer, Finance Minister Situmbeko Musokotwane said on Friday. \u201cWe anticipate that the official creditor committee will be formed within the next […]<\/p>\n","protected":false},"author":84,"featured_media":19212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12,16],"tags":[234,235,233],"class_list":["post-19213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-zambia","tag-zambia"],"yoast_head":"\nZambia creditors to meet soon to form debt committee - Zambia<\/title>\n<meta name=\"description\" content=\"Zambia\u2019s creditors are in the next few weeks expected to form a committee to examine the sustainability of the nation\u2019s ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-creditors-to-meet-soon-to-form-debt-committee\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zambia creditors to meet soon to form debt committee\" \/>\n<meta property=\"og:description\" content=\"Zambia\u2019s creditors are in the next few weeks expected to form a committee to examine the sustainability of the nation\u2019s ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-creditors-to-meet-soon-to-form-debt-committee\" \/>\n<meta property=\"og:site_name\" content=\"Zambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-27T20:01:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-27T20:10:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2022\/03\/img-6240c482db482.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-creditors-to-meet-soon-to-form-debt-committee#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-creditors-to-meet-soon-to-form-debt-committee\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Zambia creditors to meet soon to form debt committee\",\"datePublished\":\"2022-03-27T20:01:27+00:00\",\"dateModified\":\"2022-03-27T20:10:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-creditors-to-meet-soon-to-form-debt-committee\"},\"wordCount\":284,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-creditors-to-meet-soon-to-form-debt-committee#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2022\/03\/img-6240c482db482.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zambia\",\"Zambia\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-creditors-to-meet-soon-to-form-debt-committee#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-creditors-to-meet-soon-to-form-debt-committee\",\"url\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-creditors-to-meet-soon-to-form-debt-committee\",\"name\":\"Zambia creditors to meet soon to form debt committee - 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