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Zambia president blames private creditors for debt deal delays

Zambia's President Hakainde Hichilema on Friday blamed private creditors for holding up a long-sought debt restructuring deal for the first African nation to default after the Covid pandemic.The framework has been criticised as many African nations are either already in, or on the edge of, debt distress.

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Lusaka
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International-monetary-fund
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Private-creditors

No alternative to IMF program to rid Sri Lanka of economic crisis: President | World News

Last week, the International Monetary Fund (IMF) approved the release of the second tranche worth USD 337 million to the island nation. | World News

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Sri-lanka
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France
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International-monetary-fund
Paris-club

Ministry of Finance expresses commitment to swift agreement with bondholders, emphasizes transparency and fair treatment

Ministry of Finance expresses commitment to swift agreement with bondholders, emphasizes transparency and fair treatment
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Ethiopia
Global-investor-call
Debt-sustainability

IMF board approves first review of bailout deals reached with Sri Lanka and Bangladesh

The South Asian nations are facing a severe financial crisis, resulting in rising cost of living

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Antoinette-sayeh
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Sri Lanka will get the second tranche of a much-need bailout package from the IMF

The International Monetary Fund executive board approved the release of the second tranche of a $2.9 billion dollar bailout package to help Sri Lanka recover from the worst economic crisis in its history. In a statement, the fund said the decision Tuesday to release $337 million came after Sri Lanka had made “commendable progress” toward debt sustainability, raising revenue, rebuilding its reserves, reducing inflation and safeguarding financial stability. In September, the IMF delayed the release of the second tranche of the four-year package, saying Sri Lanka’s economy was recovering but the country needed to improve its tax administration, eliminate exemptions and crack down on tax evasion.

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