Zambia’s debt needs critical restructuring, says U.S. treasury secretary
The U.S. Treasury Secretary, Janet Yellen, said on Monday during a visit to Zambia that it was critically important to restructure the African country’s debt.
Ms Yellen said Zambia’s debt overhang was a drag on its whole economy and that China had been a barrier to resolving the southern African country’s debt problem.
She said Zambia must address corruption, and President Hakainde Hichilema, who took charge in August 2021, had made progress.
Ms Yellen is on a three-country visit to Africa.
In Senegal, she said Russia’s war in Ukraine was hitting Africans particularly hard by exacerbating food insecurity.
She added that the war was dragging the continent’s economy.
(Reuters/NAN)
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