IMF 'hopeful' Zambia to announce debt deal with creditors before Thursday

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MARRAKECH - The International Monetary Fund's Africa director said on Monday that he was"hopeful" that Zambia and its official creditors would announce a finalised debt restructuring deal before Thursday.

"They've told us that there's been very strong progress, that they're in the last stage of finalising things." It clinched an agreement in June to restructure $6.3 billion in debt owed to governments abroad including China and members of the Paris Club of creditor nations. To formalise the debt deal, Zambia has to sign a memorandum of understanding with these official creditors.

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