{"id":28202,"date":"2022-08-04T21:33:18","date_gmt":"2022-08-04T21:33:18","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/all-news\/government-welcomes-the-official-creditors-committees-decision-to-consider-zambias-request-for-debt-restructuring"},"modified":"2022-08-04T21:46:39","modified_gmt":"2022-08-04T21:46:39","slug":"government-welcomes-the-official-creditors-committees-decision-to-consider-zambias-request-for-debt-restructuring","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/government-welcomes-the-official-creditors-committees-decision-to-consider-zambias-request-for-debt-restructuring","title":{"rendered":"Government welcomes the Official Creditors Committee\u2019s decision to consider Zambia\u2019s request for debt restructuring"},"content":{"rendered":"

Africa-Press – Zambia. <\/strong><\/span>The government says it has welcomed the Official Creditors Committee\u2019s decision to consider Zambia\u2019s request for debt restructuring, as it will help unlock the IMF programme approval for the country. Minister of Finance and National Planning Situmbeko Musokotwane says the move by the Official Creditors Committee is welcome.<\/p>\n

Dr Musokotwane has reiterated government\u2019s commitment to implement the required economic reforms and work hand in hand with both the Official and Private creditors to agree on terms of debt restructuring in line with the comparability of treatment principle. This was contained in a statement released by Secretary to Treasury in Lusaka yesterday.<\/p>\n

Earlier it was reported that the Indonesia G20 Presidency have expressed support for the implementation of the \u2018Common Framework for Debt Treatments beyond the DSSI\u2019 and have welcomed the progress made by the creditor committee on Zambia\u2019s formal request for debt treatment, and that they are looking forward to the conclusion of the negotiation of the terms of a restructuring of creditor committee member claims and agreement of an MoU.<\/p>\n

On July 18th, The creditor committee for Zambia, co-chaired by China and France, with South Africa acting as a vice-chair, with IMF and World Bank staff in attendance met virtually and discussed Zambia\u2019s macroeconomic and financial situation, including its long-term debt sustainability and its formal request for debt treatment under the \u2018Common Framework for Debt Treatments beyond the DSSI\u2019.<\/p>\n

The Common Framework for debt treatment beyond the DSSI (Common Framework) is an initiative endorsed by the G20, together with the Paris Club, last November to support, in a structural manner, Low Income Countries with unsustainable debt.<\/p>\n

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

Africa-Press – Zambia. The government says it has welcomed the Official Creditors Committee\u2019s decision to consider Zambia\u2019s request for debt restructuring, as it will help unlock the IMF programme approval for the country. Minister of Finance and National Planning Situmbeko Musokotwane says the move by the Official Creditors Committee is welcome. Dr Musokotwane has reiterated […]<\/p>\n","protected":false},"author":84,"featured_media":28201,"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-28202","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":"\nGovernment welcomes the Official Creditors Committee\u2019s decision to consider Zambia\u2019s request for debt restructuring - Zambia<\/title>\n<meta name=\"description\" content=\"The government says it has welcomed the Official Creditors Committee\u2019s decision to consider Zambia\u2019s request for debt re ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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