By RUTH YAMBAYAMBA
ECONOMIST Kelvin Chisanga has expressed concern over Zambia’s dragging debt restructuring process as the year ends.
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Mr Chisanga said the delay is worrying because the expectation of many Zambians was that the relief offered by the bilateral creditors should almost be equivalent to the relief offered by the private creditors but the bilateral creditors offered way more relief hence the complexity.
He said the complexity had slowed down the debt restructuring process as there was currently nothing substantial to point to despite the memoranda of understanding and the principal agreement having been mooted.
Mr Chisanga said there was a need for the negotiators to go back to the drawing board to iron out these issues that are delaying the progress.
“The biggest challenge on the table is actually the issue to do with the Eurobond. The Eurobond are the biggest challenges we can see with the debt restructuring process.
These are becoming toughest element in the entire debt restructuring process, so we shall see that this debt restructuring process will prolong for a little longer than normal,” Mr Chisanga said.
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