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IMF to assess Zambia in spring, urges debt deal with creditors

Published 12/08/2022, 10:45 AM
Updated 12/08/2022, 10:54 AM
© Reuters. FILE PHOTO: The International Monetary Fund logo is seen inside the headquarters at the end of the IMF/World Bank annual meetings in Washington, U.S., October 9, 2016. REUTERS/Yuri Gripas/File Photo

LONDON (Reuters) - The International Monetary Fund has urged default-stricken Zambia to strike a debt restructuring deal with its international creditors as soon as possible and will make a formal assessment of its predicament in spring next year.

© Reuters. FILE PHOTO: The International Monetary Fund logo is seen inside the headquarters at the end of the IMF/World Bank annual meetings in Washington, U.S., October 9, 2016. REUTERS/Yuri Gripas/File Photo

At the end of a trip to the country, IMF mission chief Allison Holland pointed to, "the authorities' promising progress in meeting key commitments under the (current) Fund-supported programme."

"Achieving timely restructuring agreements with external creditors is essential to secure the expected benefits of the Fund-supported programme," Holland added.

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