Zambia, bilateral creditors agreed debt rework memorandum of understanding - finance ministry
MARRAKECH, Morocco, Oct 14 (Reuters) - Zambia has agreed a memorandum of understanding (MoU) with its bilateral creditors on restructuring about $6.3 billion of debt, almost three years after the southern African country defaulted, the finance ministry said on Saturday in a statement.
Zambia was the first African country to default on its debt in the pandemic era and its restructuring process, which saw it agree broad terms to rework the debt with official creditors in June, has been beset by delays. (Reporting by Rachel Savage and Jorgelina do Rosario)
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