An agreement could be reached “within a few days,” according to a statement released by the International Monetary Fund (IMF) on Tuesday. The IMF was pleased by the progress in discussions between Zambia and its official creditors.
“We are very encouraged by the significant progress that is being made in discussions between official creditors and Zambia on a potential debt treatment,” a spokeswoman for the fund wrote in an email.
“We expect that an agreement could be reached within the next few days, which would allow the Executive Board to consider the first review of the Fund-supported program within the next few weeks.”
At the beginning of April, the International Monetary Fund (IMF) stated that the next payout of $188 million from a support loan of $1.3 billion to Zambia was contingent on the government reaching a deal with its creditors.
The worries of Zambia’s primary creditors on the necessary level of debt relief have made it more difficult for the country to achieve its goal of restructuring around $12.8 billion of its external debt.
