“We are very encouraged by the significant progress being made in discussions between official creditors and Zambia on a potential debt treatment,” a spokesperson for the fund wrote.
“We expect an agreement could be reached within a few days, which would allow the Executive Board consider the first review of the Fund-supported program within a few weeks.”
The IMF said in early April that the next $188 million payout from a $1.3 billion support loan to Zambia was contingent on the government’s reaching an agreement with its creditors.
Zambia’s hopes of restructuring about $12.8 billion of external debt have been hampered by the concerns of its main creditors about the required scale of relief.
Source: Economy - investing.com
