Zambia is still struggling with debt restructuring. The first African country to default, Zambia has since sought to restructure its debt within the common framework of the G20, its private creditors and the Bretton Woods institutions. Despite a new agreement of 184 million dollars formalized on Monday with the IMF, the country suffered a new setback. Zambia’s bilateral creditors have vetoed the nearly $7 billion restructuring plan, which constitutes part of its external debt.
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Zambia still grappling with debt restructuring
