Banking sector anticipates improved credit ratings following successful debt restructuring


Zambia’s banking sector anticipates the country’s rating agencies to improve its sovereign ratings following the successful restructuring of its external debt in the sum of US$10.1 billion.

This includes the US$6.3 billion with the Official Creditors Committee, which was agreed in principle in June 2023 and US$3.8 billion with bondholders, which was agreed in principle in March, 2024.

The Bankers Association of Zambia (BAZ) Chairperson, Lowani Chibesakunda, in a statement issued on Thursday, expressed confidence that the debt restructuring would improve the attractiveness and creditworthiness of the country.

BAZ congratulated all stakeholders involved in the development.

“As an industry we look forward to the next phase of the country’s economic growth and transformation as the debt relief creates the much-needed fiscal flexibility.

“As we celebrate this great milestone, the Bankers Association of Zambia understands that work has just began and we shall continue to partner with Government and all business sectors, to foster economic growth,” Chibesakunda said.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.

Lusaka Securities Exchange reports 10.2% percent rise in market capitalization, reaches K97.7 billion

Previous article

Copper in 14-month high, rises by 0.7 percent to $9,329 a ton on London Metal Exchange

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Economy