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Zambia requests debt restructuring under G20 common framework

PUBLISHED: Fri, 05 Feb 2021 08:49:13 GMT

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JOHANNESBURG, Feb 5 (Reuters) – Zambia, which became Africa’s first pandemic-era sovereign default late last year, said on Friday it had officially requested debt restructuring under a new common framework supported by the Group of 20 wealthy economies.

“Zambia is committed to transparency and equal treatment of all creditors in the restructuring process,” Finance Minister Bwalya Ng’andu said in a statement. “Our application to benefit from the G20 Common Framework will hopefully reassure all creditors of our commitment to such treatment.”

(Reporting by Olivia Kumwenda Writing by Joe Bavier)

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