With Chinese Assurances, IMF Chief Expresses New Optimism Zambia Debt Deal Now Imminent

Kristalina Georgieva (L), Managing Director of the International Monetary Fund (IMF), and Ngozi Okonjo-Iweala, Director-General of World Trade Organization (WTO), attend the panel discussion on Trade integration in Africa in Nairobi on May 5, 2023. Yasuyoshi CHIBA / AFP

The head of the International Monetary Fund, Kristalina Georgieva, expressed renewed confidence that China, together with Zambia’s other major creditors, is close to finalizing a debt deal that will clear the way for a $1.3 billion IMF emergency financial package.

Georgieva told attendees at an African trade conference in Nairobi on Friday that she expects a resolution to Zambia’s drawn-out debt restructuring process will be announced “very soon.” 

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by Eric Olander

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