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Zambia Finance Chief to Africa: Don’t Wait to Rework Debts

  • Nation is a test case for the G20’s debt restructuring plan
  • Progress has been slow for all three nations to enlist so far
Situmbeko Musokotwane

Situmbeko Musokotwane

Photographer: Zinyange Auntony/Bloomberg
Updated on

Zambian Finance Minister Situmbeko Musokotwane urged other African nations considering using the Group of 20’s Common Framework mechanism to restructure unaffordable debt to act quickly.

Africa’s first pandemic-era sovereign defaulter has been using the template to rework external liabilities totaling $12.8 billion.