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JCTR OPTIMISTIC PRIVATE CREDITORS WILL RESTRUCTURE ZAMBIA’S DEBT 

By PRINCE MABUMBA

THE Jesuit Centre for Theological Reflection (JCTR) says it hopes that private bondholders and creditors will agree to restructure Zambia’s debt on comparable terms with the agreement sealed with official creditors under the g20 common framework on debt restructuring.

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Speaking when he featured on Millennium TV’s Business Day programme, JCTR Executive Director, Alex Muyebe hoped that the negotiations with the private bond holders and creditors scheduled for next month would yield positive results.

“You have an entity that is maybe refusing to play ball that does not look good for Zambia. It is our hope that negotiations with private creditors, including the bond holders that will yield some fruit and bear some results indicating the creditors come round the table and agree to the debt restructuring on comparable terms under the G20 framework.

 “Just like the bilateral creditors have demonstrated and have shown the way and now it is up to the private creditors to do their bit,” Fr Muyebe said.

He also urged Blackrock, a New York based, the US$ 8.6 trillion investment company, which owns Zambia’s highest external debt at us$ 220 million, to respond positively to the debt restructuring negotiations with Zambia.

Fr Muyebe  further said  Zambia was not in a position to have entities that are planning to rebel against the G20 Common Framework on debt treatment as this is the first time it is being tested and put to use.

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