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CSO Debt Alliance nods conclusion of joint Debt Sustainability Analysis for Zambia

• Conclusion of a joint Debt Sustainability Analysis for Zambia is a significant introduction to the debt restructuring process.
• International Monetary Fund, the World Bank and Government must consider a swift publication of the recently concluded Debt Sustainability Analysis.
• It is imperative that Government doubles its effort aimed at consolidating all the support the debt restructuring requires.

Civil Society Organizations (CSO Debt Alliance) says the conclusion of a joint Debt Sustainability Analysis for Zambia as conducted by International Monetary Fund and the World Bank is a significant introduction to the debt restructuring process that will in a broad sense, pave way for rebuilding the economy which Zambia desperately needs to embark on.
Alliance Chairperson Father Alex Muyebe said International Monetary Fund, the World Bank and Government must consider a swift publication of the recently concluded Debt Sustainability Analysis as this is key in informing policy discourse on the estimated extent of the problem and prescription of the needed relief not only among creditors but the general citizenry.
Fr. Muyebe stated that it is imperative that Government doubles its effort aimed at consolidating all the support the debt restructuring requires from all key stakeholders.
“We are thrilled with news coming out of Washington DC, pointing to the conclusion of a joint Debt Sustainability Analysis (DSA) for Zambia as conducted by the International Monetary Fund and the World Bank, “he said.
He said it is evidently clear that China, which has lent heavily to African resource exporters including Zambia in recent decades, will play a key role in the debt overhaul with Zambia owing more than $6 billion, or 40% of its total publicly guaranteed and non-guaranteed external debt to Chinese lenders.

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