Bondholders have voted in favor of Zambia’s proposed debt restructuring deal.
This followed solicitation of consents from Zambia’s debtors undertaken.
Minister of Finance and National Planning Situmbeko Musokotwane says the agreement with the bond holders will create the fiscal breathing space necessary for Zambia to remain on a trajectory of sustainable economic growth.
“After nearly four years since we initially defaulted on our Eurobonds, the closing of the restructuring chapter is in sight,” said Dr. Musokotwanem in a statement issued in Lusaka today.
Dr. Musokotwane has since thanked the country’s bondholders for their support, and further said the country is looking forward to finalizing all formalities with respect to the consent process in the coming days.
By Margaret Mwanza
