1. Strategies to future-proof Zambia: Debt relief and beyond
- Author:
- Vincent Obisie-Orlu
- Publication Date:
- 07-2023
- Content Type:
- Policy Brief
- Institution:
- Good Governance Africa (GGA)
- Abstract:
- Debt relief negotiations are currently taking place, with Zambia expected to be the first country to receive debt relief under the newly created G20 Common Framework. However, the process faces challenges, with China and the United States trading accusations of impeding the process. Some of Zambia's creditors have also been unwilling to agree to write off some of the country's debt. Positively, innovative approaches to debt relief have been proposed that would support Zambia's net-zero ambitions and promote sustainable development, such as debt for nature swaps. The integration of Zambia into the European Union's Critical Minerals framework could further support and assist Zambia in attaining a deal. Without a deal, Zambia risks being plunged into further macroeconomic uncertainty at a time when the country needs investment to capitalise on opportunities presented by political stability and structurally higher prices for copper and other critical minerals with which Zambi a is endowed.
- Topic:
- Debt, Development, Natural Resources, Political stability, Mining, and Macroeconomics
- Political Geography:
- Africa and Zambia