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<p>Zambia is one of three countries to have requested a debt treatment under the Common
Framework. The Common Framework was agreed in November 2020 by the UK, along with
the G20 and Paris Club, to help deliver a long-term, sustainable approach for supporting
low-income countries to tackle their debt vulnerabilities.</p><p> </p><p>Private sector
participation in the Common Framework is critical. Under the terms of the Common Framework,
a debtor country that signs an MoU with participating official creditors will be required
to seek from all private creditors a treatment at least as favourable. Accordingly,
once Zambia signs an MoU for its case it will need to engage its private creditors
to ensure their participation on comparable terms.</p><p>The Government routinely
engages private sector creditors on international debt issues in a number of fora
and will work closely with its international partners to ensure private creditors
fully play their part in Zambia’s restructuring.</p><p> </p>
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