Analysis-Zambia's debt-rework battle scars mar its Common Framework success

Zambia's deal with bondholders this week suggests it will finally emerge from more than three years in default -- and become the first successful restructuring under the debt-rework architecture designed by the G20. The African nation's President Hakainde Hichilema posted on X that "history has been made," while International Monetary Fund (IMF) President Kristalina Georgieva lauded the "important achievement." Global leaders hope that Ghana may soon reach its own deal with lenders, boosting the Framework before the IMF World Bank Spring Meetings in Washington, D.C. in mid-April.

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