Audio By Carbonatix
Zambia hopes to agree on key conditions for restructuring $3 billion of its bonds no later than the first quarter of 2024, Secretary to the Treasury Felix Nkulukusa said on Thursday.
Debtor countries are meant to agree comparable restructuring deals with official and commercial creditors under the G20's Common Framework process, which was established in 2020 in response to the COVID-19 pandemic.
"Before we go to the (bondholder) steering committee, we have to agree on what we mean by comparability of treatment," Nkulukusa said.
"This should be concluded not later than the first quarter of 2024," he added.
In a major setback for Zambia, its official creditors, which include China and members of the Paris Club of creditor nations, rejected a preliminary restructuring deal in November.
They argued that the deal with bondholders, which was approved by the International Monetary Fund (IMF), did not offer comparable debt relief to what they were offering.
Latest Stories
-
EPA boss encourages journalists not to relent in their support to fight galamsey
26 minutes -
Domestic Gold Purchasing Programme helped Ghana’s economy during difficult period – IMF
29 minutes -
Ike City Group of Companies touches hearts at Dzorwulu Special School with compasionate donation
46 minutes -
Vehicle exhaust pipes on the left create about 40% more pollution on the road than those on the right – Study
56 minutes -
My Response to Dr Bryan Acheampong: Facts must prevail
1 hour -
U.S. and Ghana Armed Forces strengthen medical readiness at SETAF-AF Best Medic Competition
1 hour -
Earlier passage of BoG’s Amendment Bill could have prevented haircuts – Dr. Asiama
2 hours -
Economic stability gains were hard-won through discipline and institutional effort – BoG Governor
2 hours -
GCB Bank rewards customers at first “Pa To Pa” Promo Draw
3 hours -
EC sets March 3 for Ayawaso East by-election
3 hours -
Call for Applications: WikkiTimes launches Anas Aremeyaw Anas AI fellowship
3 hours -
GPL 2025/26: Dreams hold Hearts as Phobians record 8th draw
3 hours -
If you attempt to bribe a police officer now, he will disgrace you; he wants a promotion – IGP Yohuno
3 hours -
Kwabena Adu Koranteng: KGL: Ghana’s most transparent, accountable indigenous corporate brand
3 hours -
This Saturday on Newsfile: NPP presidential primaries, Ofori-Atta, Sedina detention and LGBTQ-tainted manual
3 hours