Zambian President Hakainde Hichilema will head to Washington soon to meet with officials from the IMF and World Bank in an effort to secure a new financing package. The Zambian leader spoke at the UN this week and met with U.S. Vice President Kamala Harris in New York.While President Hichilema contends that closing an IMF deal is critical to boosting investor confidence, he’s said little about how he plans to handle the estimated $3 billion of loans from various Chinese entities that remain a concern to both bondholders and IMF officials. (REUTERS)
Ethiopia’s State Minister of Finance Eyob Tekalign Tolina told reporters on Wednesday that a new creditors’ committee led by France and China met last week for the first time. The formation of this creditors’ committee is a key step in Ethiopia’s drive to restructure its $30 billion debt in accordance with the G20’s common framework. Eyob provided few details on the outcome of the inaugural gathering other than to say it was “successful.” (REUTERS)
