DEBT DEAL NOT CONCLUSIVE – WORLD BANK
DEBT DEAL NOT CONCLUSIVE – WORLD BANK
The celebrated debt restructuring deal is far from being done and dusted and will not solve all of Zambia’s problems because there still are significant constraints that should be addressed before the deal could be concluded, the World Bank has said.
Official records show that Zambia is set to restructure US$13.4 billion worth of its debt.
Last week, Zambia reached a debt agreement to restructure US$3.5 billion Eurobond debt with its bondholders.
However, while the World Bank Country Manager, Achim Fock, admitted that debt restructuring agreements was a critical step for the rebuilding of trust and reduction of risk, he has warned that Zambia’s constraints remain significant