ZAMBIA AND FRANCE SIGN HISTORIC DEBT RESTRUCTURING AGREEMENT
Zambia and France have signed a landmark bilateral agreement aimed at restructuring Zambia’s debt, a critical step in the country’s economic recovery following the Memorandum of Understanding (MoU) reached in October 2023 under the G20-Paris Club Common Framework for Debt Treatment.
The deal has been formalized in Lusaka by Zambia’s Finance Minister, Dr. Situmbeko Musokotwane, and France’s Head of Multilateral Affairs at the Ministry of Economy, Finance, and Industry, Mr. William Roos, who also co-chairs the Paris Club.
Dr. Musokotwane has hailed the agreement as a major milestone in Zambia’s efforts to address its debt crisis, as it creates the fiscal space needed to prioritize economic recovery, social investment, and sustainable development.
He says that the agreement sets the stage for Zambia to conclude negotiations with 15 other creditor nations under the Common Framework.
Mr. Roos has reaffirmed France’s dedication to international cooperation, describing the agreement as a step toward fairer economic solutions for developing nations.