By SIMON MUNTEMBATHE Zambia External Bondholder Committee has welcomed the announcement that the International Monetary Fund (IMF) and the Zambian authorities have reached a staff-level agreement on an extended credit facility in an amount of about.The Committee has congratulated the authorities on the positive progress to restoring macro-economic stability and improving the foundation for further economic recovery.In a statement by committee member Mr Spencer Jones yesterday, the committee members said they were now looking forward to the authorities engaging in a prompt, transparent and proactive manner with the Committee on how to cure the defaults on the outstanding Eurobonds, which have persisted since November 2020.Most importantly, he said, and in line with the new administration’s frequently stated commitment to transparency, comprehensive information on the macro-economic assumptions and projections underlying the SLA will be required for bondholders to consider the terms of any debt relief.Mr Spencer said inter-creditor equity should also be of paramount importance in […]
Bondholders welcome Zambia, IMF deal
