PARIS -Zambia has struck a deal to restructure $6.3 billion in debt owed to other governments, including China, marking a long-awaited breakthrough for indebted nations around the world that have faced lengthy negotiations with creditors. Zambia in 2020 became the first African country to default on its sovereign debt during the COVID-19 pandemic and struggled since then in protracted discussions to agree a deal. 'Zambia has reached an agreement on a debt treatment with our official creditors – a significant milestone in our journey towards economic recovery & growth,' Zambian President Hakainde Hichilema said on Twitter.

https://business.inquirer.net/406937/zambia-seals-6-3-b-restructuring-in-breakthrough-for-developing-nations

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