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World Bank President David Malpass on Thursday said he hoped Zambia’s creditors, including China, would sign a memorandum of understanding on its debt restructuring this week or next.
He said it was incumbent on China and other creditors to come forward with actual commitments to allow Zambia, which requested debt treatment under a Group of 20 framework nearly two years ago, to return to sustainable debt levels.
Malpass said a new sovereign debt roundtable aimed at resolving bigger issues around debt restructuring had made progress.
China was more receptive to arguments that multilateral development banks could participate in debt treatment via highly concessional loans and grants.
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