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Reuters
Reuters
Business
By Gayatri Suroyo and Rachel Savage

Zambia debt relief pledge clears way for $1.4 billion programme, says IMF

G20 Zambia International Monetary Fund Indonesia
FILE PHOTO: G20 Finance Ministers, Central Bank Governors and head of delegates attend the second day of G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 16 July 2022. Made Nagi/Pool via REUTERS

Zambia's creditors pledged to negotiate a restructuring of the country's debts on Saturday, a move IMF managing director Kristalina Georgieva welcomed as "clearing the way" for a $1.4 billion Fund programme.

The creditor committee, co-chaired by China and France, said in a statement released by G20 chair Indonesia that it supported Zambia's "envisaged IMF upper credit tranche program and its swift adoption by the IMF Executive Board".

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