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Browsing: Zambia’s economic recovery
- The African Development Bank offers an initial $150M to Zambia for budgetary support.
- Fresh from striking a debt restructuring agreement with creditors, Zambia will also get an additional $168M per year from AfDB’s non-concessional window.
- AfDB President Dr. Akinwumi Adesina says the lender will aid Zambia in her economic recovery efforts.
Fresh from a successful $6.3 billion debt restructuring deal with bilateral creditors, the African Development Bank (AfDB) is rolling out $150 million support line for Zambia to accelerate the country’s recovery efforts.
In June this year, the International Monetary Fund (IMF) lauded the debt treatment agreement struck by Zambia and its official creditors under the G20 Common Framework.
During a meeting with AfDB, Zambia President Hakainde Hichilema acknowledged the significant progress made on official creditor debt. Hichilema, however, highlighted the need to address debt owed to local and external commercial creditors, including Eurobond holders. He expressed the desire to …