Zambia's Debt Relief Efforts Face Delays and Concerns.

Zambia's official creditors, including China, are expected to sign a Memorandum of Understanding (MOU) on debt relief in May, which would pave the way for more IMF funding. The country has been in default since 2020, with external debt amounting to $18.6 billion, and is hoping for more than $8 billion of debt relief. The MOU would outline specific modalities of debt relief aligned with the parameters of a $1.3 billion 38-month program signed off by the IMF's board in August 2022.