Browsing: creditors

The creditor committee for Zambia stated that the conditions of the reorganisation would be finalised in a memorandum of understanding, but they did not provide any other specifics.

Additionally, it requested that private creditors “commit without delay” to the process of negotiating debt relief on conditions at least as favourable as those proposed by the government.

Kevin Daly, who is in charge of a group of Zambian Eurobond holders, praised the bilateral creditors’ statement but reiterated the need for access to the Debt Sustainability Analysis (DSA) of the IMF, which serves as the negotiation’s starting point.

The World Bank’s president, David Malpass, reiterated such sentiments, saying, “I implore official bilateral and private sector creditors to participate on equal terms, granting Zambia a considerable net-present-value debt reduction.”