Posted 11/24/2023, 11:39:00 AM
Zambia's Prolonged Debt Crisis Stalls Growth and Development, Impacting Millions
- Long delays in Zambia's debt restructuring have constrained investments, economic growth, local markets, and increased living costs
- Zambia defaulted 3 years ago and is reworking debt under G20 Framework, but process has faced delays
- Uncertainty around debt restructuring has hit domestic bond markets and currency volatility
- Stalled projects have delayed clean water access for 1.5 million Zambians and infrastructure in poor rural areas
- Zambia has implemented reforms and committed to better finances and growth, but delays hurt "real people"