Wednesday, February 21, 2024

Zambia to complete debt restructuring by 1H, 2024

by malinga
February 11, 2024 1:07 am 0 comment 56 views

Zambia hopes to complete a long-delayed restructuring of more than $13bn in external debt in the first half of this year, the Southern African nation’s Finance Minister said. Situmbeko Musokotwane said it was “complex and dangerous to give timelines” on a resolution more than three years after Africa’s second-largest copper producer defaulted on its debt, but that Zambia had made progress.

Asked whether the debt restructuring would be completed in the first half of 2024, Musokotwane said: “I’m hoping so. If I can get it even earlier, that would be better.”

The Minister was speaking to the Financial Times at the African Mining Indaba, an annual industry gathering in Cape Town.


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