| answer text |
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. Zambia is one of three countries –
along with Chad and Ethiopia - to have so far requested the Common Framework.<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
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>
|
 |
