MINISTER of Finance and National Planning Situmbeko Musokotwane has welcomed China’s pledge to help the county resolve its debt situation.
In a media statement, Dr Musokotwane said Zambia welcomes China’s Finance Minister Liu Kun’s statement at the meeting of G20 Finance Ministers that China, with the principle of collective action and fair burden sharing, is willing to implement the G20’s Debt Service Suspension Initiative in a methodical fashion on a case by case basis.
“We are also delighted with Governor of the Peoples Bank of China Mr Yi Gang’s assurance that China is now actively participating in the G20 Common Framework and supports a case-by-case approach to addressing debt under the framework.
We note China’s request that the IMF should call on all parties, commercial creditors in particular to restructure their debt in the principle of comparability of treatment,” Dr Musokotwane said.
He said China’s pronouncements at the 2022 Spring Meetings of the IMF/World Bank are
important building blocks in Zambia’s case for debt restructuring.
“Their message is very positive for us,” he said.