Zambian president tells creditors in a tweet their money’s safe

[ad_1] Zambian President Hakainde Hichilema took to Twitter on Thursday to guarantee collectors that they’ll be paid, having warned in an interview with Bloomberg this week that the southern African nation’s debt burden is greater than beforehand thought.

Hichilema, who defeated Edgar Lungu in final month’s election, wants to barter new phrases with exterior lenders after Zambia turned Africa’s first pandemic-era defaulter 10 months in the past. Utilizing the nickname “Bally” — native slang for dad — the brand new president stated he would pay.

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Collectors to Zambia needn't fear about our present monetary place. We'll arrive at an amicable and mutually useful answer to our debt. We'll have interaction transparently and in good religion. Because the youth of Zambia would say, “Bally can pay.”

— Hakainde Hichilema (@HHichilema) September 2, 2021

First, Zambia must safe a cope with the Worldwide Financial Fund that may type the idea of talks with collectors that vary from state-owned Chinese language lenders to holders of the nation’s $3 billion Eurobonds.

Situmbeko Musokotwane, the brand new finance minister, says he’s focusing on a deal by November.

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Zambian president tells creditors in a tweet their money’s safe

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