IMF ‘hopeful’ Zambia to unveil debt deal with creditors before Oct. 12

By Yomna Yasser On Oct 9, 2023

Abebe Aemro Selassie, Head of International Monetary Fund's (IMF) African Department, provides the Regional Economic Outlook for Sub-Saharan Africa during the 2021 Annual Meetings at the International Monetary Fund on 21 October 2021 (Photo Credit: IMF Photo/Cory Hancock)

The International Monetary Fund (IMF) is “hopeful” that Zambia and its official creditors would unveil a finalised debt restructuring deal before Thursday, October 12, said IMF Africa director on Monday.

“We’re very hopeful that the authorities and the creditors will be in a position to make an announcement very, very soon,” Abebe Selassie told Reuters in an interview on the sidelines of the IMF and World Bank annual meetings taking place in Marrakech, Morocco.

“They’ve told us that there’s been very strong progress, that they’re in the last stage of finalising things.” Selassie added.