Economic news

Zambia expects debt negotiations to finish by end of June -minister

2022.05.09 13:01

Zambia expects debt negotiations to finish by end of June -minister
FILE PHOTO: Zambia’s President Hakainde Hichilema presents his national statement as a part of the World Leaders’ Summit at the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain November 1, 2021. Andy Buchanan/Pool via REUTERS

CAPE TOWN (Reuters) – Zambia’s President Hakainde Hichilema said on Monday that the country aims to avoid another debt default and its finance minister said the country’s debt negotiations should be completed by the end of June.

“We borrowed way too much, it is one of our priorities to restructure our debt,” Hichilema said during a speech to the Indaba mining conference in Cape Town.

Finance Minister Situmbeko Musokotwane told Reuters in an interview that debt talks should end in June.

Zambia, Africa’s second-biggest copper producer, became the first pandemic-era sovereign default in 2020, struggling with debt that has reached 120% of GDP. Its debt was $31.74 billion at the end of 2021, according to official government data – of which $17.27 billion is external debt.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 75,650.27 0.30%
vested-xor
Vested XOR (VXOR) $ 3,405.08 99,999.99%
ethereum
Ethereum (ETH) $ 2,877.62 6.91%
tether
Tether (USDT) $ 1.00 0.02%
solana
Solana (SOL) $ 195.22 3.33%
bnb
BNB (BNB) $ 598.13 1.21%
usd-coin
USDC (USDC) $ 0.999545 0.11%
xrp
XRP (XRP) $ 0.552777 1.83%
dogecoin
Dogecoin (DOGE) $ 0.19161 3.14%
staked-ether
Lido Staked Ether (STETH) $ 2,876.94 6.92%
cardano
Cardano (ADA) $ 0.401447 11.47%
tron
TRON (TRX) $ 0.160179 1.60%
the-open-network
Toncoin (TON) $ 4.91 3.40%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,415.25 6.99%
shiba-inu
Shiba Inu (SHIB) $ 0.000019 0.52%
avalanche-2
Avalanche (AVAX) $ 27.38 2.43%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 75,603.26 0.12%
weth
WETH (WETH) $ 2,879.48 6.91%
chainlink
Chainlink (LINK) $ 12.54 3.59%
bitcoin-cash
Bitcoin Cash (BCH) $ 381.36 1.46%
sui
Sui (SUI) $ 2.29 0.31%
polkadot
Polkadot (DOT) $ 4.15 1.79%
leo-token
LEO Token (LEO) $ 6.25 0.30%
usds
USDS (USDS) $ 1.00 0.20%
litecoin
Litecoin (LTC) $ 71.68 1.16%
uniswap
Uniswap (UNI) $ 8.95 4.91%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,024.38 6.79%
near
NEAR Protocol (NEAR) $ 4.23 0.76%
aptos
Aptos (APT) $ 9.75 2.41%
pepe
Pepe (PEPE) $ 0.000011 11.07%
bittensor
Bittensor (TAO) $ 509.22 2.79%
internet-computer
Internet Computer (ICP) $ 7.78 0.98%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.40 0.84%
dai
Dai (DAI) $ 0.999666 0.13%
stellar
Stellar (XLM) $ 0.101498 4.71%
monero
Monero (XMR) $ 164.83 1.47%
ethereum-classic
Ethereum Classic (ETC) $ 20.14 3.87%
kaspa
Kaspa (KAS) $ 0.114415 4.54%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.20%
whitebit
WhiteBIT Coin (WBT) $ 19.61 1.37%
aave
Aave (AAVE) $ 183.20 6.33%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.344524 3.33%
blockstack
Stacks (STX) $ 1.67 2.34%
crypto-com-chain
Cronos (CRO) $ 0.091074 6.29%
okb
OKB (OKB) $ 40.26 2.04%
dogwifcoin
dogwifhat (WIF) $ 2.36 1.80%
first-digital-usd
First Digital USD (FDUSD) $ 0.99377 0.54%
arbitrum
Arbitrum (ARB) $ 0.581736 7.13%
filecoin
Filecoin (FIL) $ 3.76 2.25%
mantle
Mantle (MNT) $ 0.663181 11.42%