THE issue of Zambia's debt restructuring has been dragging for some time now and this forum has been keenly following it since inception, somewhere in 2021.
The issue which goes in tandem with the current International Monetary Fund financial support programme has occupied media spaces including that of this column for a long time now.
Followers of the country's economic developments and citizens in general will remember the night of June 22-23 this year which will forever be a memorable one as it marked the start of a new economic epoch for the southern African country. The agreement entailed Zambia's debt to be rescheduled over more than 20 years with a three-year grace period during which only payments on interest will be required.
While a great deal has been achieved, there are still a few steps to be taken to arrive at the final positions. At one time, the IMF could not release the $188-million disbursement following delays in the group agreeing to debt relief and other requests. Last month, Finance Minister Situmbeko Musokotwane said the copper-rich country will finalise and execute the MoU by the end of the year.
"We're very hopeful that the authorities and the creditors will be in a position to make an announcement very, very soon," he told Reuters in an interview on the sidelines of the IMF and WBG annual meetings adding that:
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