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IMF sees Zambia agreement with official creditors 'within a few days'
2023-06-21 15:07:01

NEW YORK (Reuters) - The International Monetary Fund is encouraged by the progress in discussions between Zambia and its official creditors, and an agreement could be reached "within a few days," the fund said in a statement on Tuesday.


"We are very encouraged by the significant progress being made in discussions between official creditors and Zambia on a potential debt treatment," a spokesperson for the fund wrote.


"We expect an agreement could be reached within a few days, which would allow the Executive Board consider the first review of the Fund-supported program within a few weeks."


The IMF said in early April that the next $188 million payout from a $1.3 billion support loan to Zambia was contingent on the government's reaching an agreement with its creditors.


Zambia's hopes of restructuring about $12.8 billion of external debt have been hampered by the concerns of its main creditors about the required scale of relief.