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(Bloomberg) The International Monetary Fund wants Zambia to implement agreed policies before resuming talks on a long-awaited economic program that has held up debt-restructuring talks with external creditors.That’s dealt a blow to bondholders’ hopes for an agreement before general elections in August in the country that became Africa’s first pandemic-era sovereign default last year.“We are ready to continue discussions as those measures are taken,” the Washington-based lender said in an emailed response to questions. “The timing when the measures are taken is in the hands of the government.”An IMF bailout will be crucial for Zambia before it can reach a restructuring agreement with the holders of as much as $12.74 billion in external public debt. The government will probably only be willing to implement reforms after the elections, and talks over a deal may drag on until the end of the year, Michael Kafe, an economist at Barclays Plc

United statesCity ofUnited kingdomBwalya nganduMichael kafeAgriculture ministryInternational monetary fundBarclays plcFinance minister bwalya ng anduFinance ministrySticking pointInternational monetary fundஒன்றுபட்டது மாநிலங்களில்நகரம் ஆஃப்ஒன்றுபட்டது கிஂக்டம்மைக்கேல் காபே