IMF bares debt plan for Zambia

By Agence France-Presse

Aug 01, 2022 12:00 am

WASHINGTON, D.C.: The International Monetary Fund (IMF) said Saturday (Sunday in Manila) that an agreement by Zambia's creditors to restructure the African country's crushing debt load has helped clear the way for the release of $1.3 billion in IMF-support funds.

Managing Director Kristalina Georgieva said she welcomed a statement from the Official Creditor Committee for Zambia, which has met virtually under joint French-Chinese leadership with IMF and World Bank staff observing.

LOAN TREATMENT This file photo taken on Jan. 26, 2022 shows the seal for the International Monetary Fund (IMF) in Washington, D.C. The IMF said on Saturday, July 30, 2022 (July 31 in Manila), that an agreement by Zambia’s creditors to restructure the African country’s crushing debt load has helped clear the way for the release of $1.3 billion in IMF-support funds. AFP PHOTO

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