US Treasury Secretary Janet Yellen said restructuring Zambias debt was a top priority as she visited the debt-ridden African country on Monday.
In 2020, as the Covid-19 pandemic battered Africa, Zambia became the first country on the continent to default on its foreign debt, estimated at $17.3 billion.
It has sought help through a G20 mechanism, but implementation has been slow, with the US accusing China the main creditor to many African nations of dragging its feet.
I consider the timely finalization of the debt treatment for Zambia to be a top priority for the Treasury Department, Yellen said as she met Zambias Finance Minister Situmbeko Musokotwane in Lusaka.
We will continue to press for all critical bilateral and private sector…
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