{"id":25023,"date":"2022-06-25T23:08:35","date_gmt":"2022-06-25T23:08:35","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/all-news\/official-creditor-committee-meeting-nkulukusa-contradicts-hh"},"modified":"2022-06-25T23:29:24","modified_gmt":"2022-06-25T23:29:24","slug":"official-creditor-committee-meeting-nkulukusa-contradicts-hh","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/official-creditor-committee-meeting-nkulukusa-contradicts-hh","title":{"rendered":"Official Creditor Committee Meeting: Nkulukusa contradicts HH"},"content":{"rendered":"

Africa-Press – Zambia. <\/strong><\/span>Reuters report that a date for the first meeting of Zambia\u2019s official creditor committee has not yet been set, an official said on Monday, after President Hichilema was reported as saying it would take place on June 16. Secretary to the Treasury Felix Nkulukusa told Reuters that \u201cwe are waiting for the Paris Club secretariat to give us that information.\u201d<\/p>\n

France, which hosts the Paris Club forum for international creditors, and China are co-chairs of the bilateral negotiations to restructure Zambia\u2019s external debts, which reached $17.27 billion at the end of 2021, according to government data.<\/p>\n

The French Finance Ministry did not respond to a request for comment. In 2020, Zambia became the first pandemic-era sovereign default and it is buckling under a debt burden of more than 120% of gross domestic product (GDP).<\/p>\n

It reached a staff level deal on a $1.4 billion three-year extended credit facility with the IMF in December and needs to finish bilateral negotiations to secure the funding.<\/p>\n

Last month sources with knowledge of the process said China was holding up the debt relief discussions. China said it was ready to support Zambia with its debts.<\/p>\n

\u201cNow we are at a stage where all the creditors have agreed to come to the discussion table,\u201d presidential spokesman Anthony Bwalya said.<\/p>\n

He said the meeting was likely to take place before the end of June. Zambia\u2019s government had previously repeatedly said it hoped the negotiations would be finished by that time.<\/p>\n

This was \u201ca tad optimistic,\u201d JPMorgan analyst Sthembiso Nkalanga said in a note that cited President Hakainde Hichilema as saying the committee would hold its first meeting on June 16.<\/p>\n

\u201cWe now see talks being concluded only in late 3Q\/early 4Q at the earliest, with risks for longer delays,\u201d Nkalanga said.<\/p>\n

Over the weekend, President Hichilema announced that Zambia\u2019s official creditors will meet for the first time on June 16 to discuss restructuring the debt.<\/p>\n

Addressing congregants at the Life Cathedral Church in Chingola, Sunday, President Hichilema said government struggled to get all creditors to sit together. The President said Zambia\u2019s creditors would on June 16 sit to discuss Zambia\u2019s debt crisis.<\/p>\n

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

Africa-Press – Zambia. Reuters report that a date for the first meeting of Zambia\u2019s official creditor committee has not yet been set, an official said on Monday, after President Hichilema was reported as saying it would take place on June 16. Secretary to the Treasury Felix Nkulukusa told Reuters that \u201cwe are waiting for the […]<\/p>\n","protected":false},"author":84,"featured_media":25022,"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-25023","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":"\nOfficial Creditor Committee Meeting: Nkulukusa contradicts HH - Zambia<\/title>\n<meta name=\"description\" content=\"Reuters report that a date for the first meeting of Zambia\u2019s official creditor committee has not yet been set, an offici ...\" \/>\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\/official-creditor-committee-meeting-nkulukusa-contradicts-hh\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Official Creditor Committee Meeting: Nkulukusa contradicts HH\" \/>\n<meta property=\"og:description\" content=\"Reuters report that a date for the first meeting of Zambia\u2019s official creditor committee has not yet been set, an offici ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zambia\/all-news\/official-creditor-committee-meeting-nkulukusa-contradicts-hh\" \/>\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=\"2022-06-25T23:08:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-25T23:29:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2022\/06\/postQueueImg_4-62b79a3ea65b0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"712\" \/>\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=\"2 minutes\" \/>\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\/official-creditor-committee-meeting-nkulukusa-contradicts-hh#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/official-creditor-committee-meeting-nkulukusa-contradicts-hh\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Official Creditor Committee Meeting: Nkulukusa contradicts HH\",\"datePublished\":\"2022-06-25T23:08:35+00:00\",\"dateModified\":\"2022-06-25T23:29:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/official-creditor-committee-meeting-nkulukusa-contradicts-hh\"},\"wordCount\":373,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/official-creditor-committee-meeting-nkulukusa-contradicts-hh#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2022\/06\/postQueueImg_4-62b79a3ea65b0.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\/official-creditor-committee-meeting-nkulukusa-contradicts-hh#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/official-creditor-committee-meeting-nkulukusa-contradicts-hh\",\"url\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/official-creditor-committee-meeting-nkulukusa-contradicts-hh\",\"name\":\"Official Creditor Committee Meeting: Nkulukusa contradicts HH - 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