Zambia Requests $8.4 Billion Debt Repayment Reprieve

File image of Zambian President Haikinde Hichilema. Dan Kitwood / POOL / AFP

The Zambian government is calling on its external creditors, including China, to provide it with $8.4 billion of debt relief in the next few years. The request was included in a new report published by the International Monetary Fund on Tuesday, the latest step in Zambia’s drive to restructure $17.3 billion of external debt obligations.

If approved by Lusaka’s creditors, which is not assured, that would amount to a cancellation of 90% of the country’s estimated payments to both private and official creditors through 2025.

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by Eric Olander

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