• The debt sustainability analysis indicates the need for Zambia to access debt relief.
• World Bank is committed to providing substantial International Development Assistance to Zambia.
• Dr. Situmbeko Musokotwane notes with concern, delays in formation of the Official Creditor Committee for debt restructuring.

Finance Minister has called on the World Bank and other development partners to act swiftly in supporting Zambia’s reform agenda and proposed debt restructuring.
Speaking during engagement meetings at the World Bank Group and International Monetary Fund (IMF) Spring Meetings in Washington, DC, United States of America, Dr. Situmbeko Musokotwane noted with concern, the delays in the formation of the Official Creditor Committee under the G20 common framework for debt restructuring.
According to a statement issued by Ministry of Finance, Dr. Musokotwane thanked the World Bank for according the delegation the opportunity to discuss Zambia’s economic reform programme and debt matters, and for the expressed solidarity for Zambia’s debt relief and economic reform agenda.
And speaking at the same meeting, World Bank Group Managing Director for Operations, Axel van Trotsenburg, announced that his organisation and its Bretton Woods Partner, the IMF, had completed a joint debt sustainability analysis which indicated the need for Zambia to access debt relief and strengthen the country’s return to sustainable debt levels.
““As a long-term partner of Zambia, the World Bank is committed to providing substantial International Development Assistance (IDA) to Zambia,” Mr. Trotsenburg said.
He took the opportunity to also appeal for swift action and international solidarity for Zambia’s debt relief and economic reform agenda.
Dr. Musokotwane and his delegation which includes Secretary to the Treasury Felix NKulukusa and Bank of Zambia Governor Dr. Denny Kalyalya are in Washington DC, for the 2022 Spring Meetings of the IMF and World Bank Group from 18th to 24th April, 2022.
The Spring Meetings bring together Ministers of Finance and Central Bank Governors of member countries, and other stakeholders, to discuss issues of global concern such as the world economic outlook, poverty reduction, and sustainable economic and social development.
Supportive and side meetings and events, held on multilateral and bilateral platforms, are scheduled throughout the Spring Meetings.