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Watch the Exim Bank’s Masterclass on ‘How to Export?’ Exim Bank A Case Study Of EximThe move is aimed at helping Zambia ease the debt and liquidity pressures as Zambia mobilizes the necessary resources to fight the COVID pandemic. Reaching this agreement is an important milestone for Zambia as it undertakes steps to ensure broad based debt relief and equal treatment of creditors in its debt relief efforts. Government is thankful to the Authorities in China for this debt service Sgudy and for the friendly relations that exist between the two countries.
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This is the second creditor from China to provide relief to the country following a similar gesture by the China Development Bank. While this this is bilateral debt, we will continue to engage private Chinese lenders based on friendly consultations. As earlier indicated Government will be transparent in the process of debt relief and will continue to work with all our creditors to reach similar interim agreements around the deferral of both principal and interest payments.
Such interim debt service deferment agreements will also provide the Government with the necessary time to complete its overall debt strategy aimed at restoring public debt sustainability. Secretary to the Treasury Fredson Yamba has announced in a statement issued this evening.
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Issued By: Fredson K. Yamba Secretary to the Treasury.
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