Finmin Musokotwane: What Zambia’s debt deal means for the economy

Zambia's Finance Minister, Situmbeko Musokotwane, recently discussed the significant impact of the debt deal the country struck with official creditors on the economy. In an interview with CNBC Africa, Minister Musokotwane highlighted the importance of the restructuring deal in freeing up Zambia from the burden of heavy debt, allowing the government to focus on providing essential services and driving economic growth. The debt restructuring agreement has not only provided relief to the country's fiscal space but has also renewed confidence among investors, paving the way for increased foreign direct investment (FDI) and infrastructure development. Minister Musokotwane emphasized that while the debt resolution is a crucial step, the ultimate goal is poverty reduction through sustainable economic expansion and job creation.