To ask His Majesty's Government, further to the recent loan provided by the International Monetary Fund to the country of Zambia, what discussions, if any, they have had with (1) the government of China, and (2) private western lenders, about cancelling debt owed by the government of Zambia.
22 November 2022
Zambia is one of three countries to have requested a debt treatment under the Common Framework. The Common Framework was agreed in November 2020 by the UK, along with the G20 and Paris Club, to help deliver a long-term, sustainable approach for supporting low-income countries to tackle their debt vulnerabilities.
Following agreement by the IMF Board of a new $1.3 billion reform programme, it is a Government priority to work with our G20 partners, including China, to make swift progress on Zambia’s debt treatment and we are a full participant in multilateral discussions on this issue.
The Government also routinely engages private creditors on international debt issues and is focused on ensuring private creditors fully play their part in Zambia’s debt treatment.