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The United States has insisted that all Zambia’s major bilateral official and private creditors meaningfully participated in the debt relief, including China.
This is according to the visiting Secretary of the Treasury, Janet Yellen when she met President Hakainde Hichilema at State House in Lusaka on Monday.
Yallen said the United States had a wide-ranging discussion in December about Zambia’s economic recovery and growth, addressing debt sustainability, and deepening trade and investment ties.
“I believe that it is overdue to conclude debt treatment for Zambia under the Common Framework.
“The United States insists that all major bilateral official and private creditors meaningfully participated in this debt relief, including China. It is our view that timely and comprehensive debt treatment can serve the interests of both debtors and creditors,” she said.
Read more: IMF helping Zambia resolve its $13.4 billion debt challenge —Georgieva
Yallen said the United States highly valued its relationship with Zambia, and that it was seeking to deepen the economic cooperation over the coming years.
She stated that the partnership between the two countries was particularly crucial as they faced significant global economic headwinds, including spillovers from Russia’s brutal war in Ukraine.
She stated that Hichilema and her discussed how Zambia could help to tackle global challenges that had serious ramifications at the national level.
Yallen said this included food security, which had worsened in Zambia and globally over the past year, as well as investing in healthy populations and preparedness for future health shocks.
“And of course, we will discuss the importance of continuing your efforts to systematically tackle corruption.
“I greatly appreciate the opportunity to exchange views with President Hichilema here in Zambia, and for his warm welcome and hospitality. I look forward to our conversation and continued work to strengthen our bilateral economic integration,” she said.
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