IMF to assess Zambia in spring, urges debt deal with creditors

LONDON (Reuters) – The International Monetary Fund has urged default-stricken Zambia to strike a debt restructuring deal with its international creditors as soon as possible and will make a formal assessment of its predicament in spring next year.

At the end of a trip to the country, IMF mission chief Allison Holland pointed to, “the authorities’ promising progress in meeting key commitments under the (current) Fund-supported programme.”

“Achieving timely restructuring agreements with external creditors is essential to secure the expected benefits of the Fund-supported programme,” Holland added.

(Reporting by Marc Jones, Editing by Rachel Savage)