By NATION REPORTER
ECONOMIST Emmanuel Zulu has expressed doubt that Zambia is going manage to fully restructure its debt by the first quarter of 2024 anticipated by government.
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The G20 launched the ‘Common Framework for Debt Treatments beyond the DSSI’ in November 2020, with Chad becoming the first country to join on 27 January 2021, followed by Zambia and Ethiopia.
The Framework is intended to co-ordinate debt reprofiling and restructuring undertaken by official and private creditors, extending in scope beyond the modest debt deferral available under the Debt Service Suspension Initiative with Zambia intending to achieve it in the first quarter of 2023 .
But Mr. Zulu is of the view that achieving the debt restructuring under the new frame work by the first quarter of 2024 is toll order for Zambia due to a number of compounding factors.
And Mr. Zulu said the IMF rushed into giving Zambia $1.3 Million in debt relief without waiting on other creditors to come on board.
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