IMF to assess Zambia in spring, urges debt deal with creditors
© Reuters. FILE PHOTO: The International Monetary Fund logo is seen inside the headquarters at the end of the IMF/World Bank annual meetings in Washington, U.S., October 9, 2016. REUTERS/Yuri Gripas/File Photo LONDON (Reuters) – The International Monetary Fund has urged default-stricken Zambia to strike a debt restructuring deal with its international creditors as soon as possible and will make a formal assessment of its predicament in spring next year.
At the end of a trip to the country, IMF mission chief Allison Holland pointed to, “the authorities’ promising progress in meeting key commitments under the (current) Fund-supported programme.”
“Achieving timely restructuring agreements with external creditors is essential to secure the expected benefits of the Fund-supported programme,” Holland added.
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