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Zambia and Ghana debt relief: Yellen to push for emergency resolution this week

12/04/2023
Source : ORISHAS FINANCE
Categories: Sectors

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La US Treasury Secretary Janet Yellen will press this week for urgent resolution of sovereign debt restructuring requests from Zambia and Ghana, and for the conclusion of Sri Lanka's debt treatment .

Yellen is scheduled to meet her counterparts around the world at World Bank and International Monetary Fund meetings this week. She insists that concrete measures be taken to speed up the overall debt relief process and make it more transparent, according to the statement of a senior Treasury official. According to the Ministry of Finance, “during the week, Secretary of State Yellen will maintain the urgency of rapidly resolving cases under the common framework, such as Zambia and Ghana, in order to eliminate over-indebtedness and promote growth in developing countries.” Sri Lanka, Zambia and Ghana have already defaulted on their external debt and are trying to review their debt with their creditors.

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