Zambia’s president is due to meet officials at the International Monetary Fund and World Bank in Washington, his spokesman said on Wednesday, as the southern African nation tries to secure a lending programme to help it emerge from a debt crisis.
President Hakainde Hichilema’s spokesman, Anthony Bwalya, in a statement issued from New York, did not say when the meetings would take place, Reuters reported.
In November, Zambia became the first African country to default on its sovereign debt during the COVID-19 pandemic after failing to keep up with payments on nearly $13 billion of international debt.
About a quarter of this debt is held by either China or Chinese entities via deals shrouded in secrecy clauses, complicating negotiations for IMF relief.
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