MACRON PUSHES FOR ZAMBIA’S DEBT RESTRUCTURING PROGRAMME
PRESS STATEMENT
For immediate release
Paris-18th November,2022
Zambia’s Ambassador to France Dr Christine Kaseba Sata has applauded French President Emmanuel Macron’s efforts in ensuring that Zambia’s case was treated as urgent in the implementation of a common debt framework during a meeting with his Chinese counterpart Mr Xi Jinping on 15th November 2022 in Bali on the sidelines of the G20 summit.
A press release from the French Presidential Office on November 15 indicated that President Macron and President Jinping discussed actions to support the financing of the most vulnerable economies. They expressed their determination to move forward with the implementation of the common debt treatment framework and referred to the particular urgent case of Zambia’.
Dr Kaseba said that she is elated with the French president’s commitment to resolving Zambia’s debt challenges as Zambia has been in discussions with its creditors on the need to restructure the country’s external public debt. She also thanked French Minister Chrysoula Zacharopoulou for conveying President Hakainde Hichilema’s message to President Macron on the need for a speedy resolution on the debt restructuring process.
She said the move will now boost the current debt restructuring discussions between Zambia and its creditors and will instill confidence to other creditors supporting Zambia.
Dr Kaseba said the successful restructuring of Zambia’s debt will result in affordable debt service repayment amounts and enable the country to redirect its’s resources to other pressing programmes in social and economic sectors of the country.
Recently President Hakainde Hichilema commended France and China for the roles they continue to play in Zambia’s debt restructuring programme.
Issued by:
Naomi Ng’andu Mweemba
First Secretary Press
Zambian Embassy
Paris
