Trésor-Info - Publications de la direction générale du Trésor - zambiaFlux de publication de la direction générale du Trésor - zambiaFluxArticlesTag-zambiaCopyright 20262024-12-09T00:00:00+01:00/favicon.pngDirection générale du Trésorhttps://localhost/sitepublic/contact@dgtresor.gouv.fr8ed29e6a-b731-4d88-8397-a3a6e485390aSigning of the France - Zambia bilateral debt restructuring agreement On 8 December 2024, William Roos, Head of Department for Multilateral Affairs, Trade and Development Policies at the French Treasury, and Situmbeko Musokotwane, Minister of Finance of Zambia, signed in Lusaka the bilateral agreement implementing, for France, the debt treatment for Zambia negotiated under the Common Framework.2024-12-09T00:00:00+01:00<p> </p>
<p style="text-align: center;"><img class="marge" title="signing of agreement" src="/Articles/8ed29e6a-b731-4d88-8397-a3a6e485390a/images/99657d45-ffaf-407d-ad30-726ddf39c573" alt="signing of agreement" width="588" height="392" /></p>
<p style="text-align: center;"><em>Minister Situmbeko Musokotwane with Head of Department William Roos, Secretary to the Treasury Felix Nkulukusa, and Ambassador Thomas Rossignol</em></p>
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<p><strong>A historic agreement</strong></p>
<p>This agreement marks a major step forward. It is the first bilateral agreement to implement the multilateral Memorandum of Understanding (MoU) signed between Zambia and its official creditors in October 2023. The latter is the first debt restructuring agreement negotiated under the aegis of the Common Framework, i.e., between Paris Club creditors and non-Paris Club G20 members on the one hand, and a borrowing country on the other. The main parameters of the USD 6 bn public debt treatment had been formalized at the level of the French and Zambian Heads of State and Chinese Prime Minister, at the Summit for a New Financial Pact in June 2023 in Paris.</p>
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<p style="text-align: center;"><img class="marge" title="photo of the presidents" src="/Articles/8ed29e6a-b731-4d88-8397-a3a6e485390a/images/00eb4b93-3779-4de8-aa4b-c563307cc333" alt="photo of the presidents" width="514" height="514" /></p>
<p style="text-align: center;"><em>Emmanuel Macron (France), Hakainde Hichilema (Zambia), Li Qiang (China) at the Summit on a New Global Financing Pact in Paris</em></p>
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<p>As chair and secretariat of the Paris Club and co-chair of Zambia’s Official Creditors Committee, France played a central role in bringing these negotiations to a successful conclusion. The agreement on the MoU was made possible thanks to in-depth cooperation with Zambia, and the collective commitment of all the official creditors, whose work was co-chaired by France and China, with South Africa as vice-chair.</p>
<p><strong>A significant debt treatment for a sustainable debt trajectory</strong></p>
<p>The bilateral agreement will implement the restructuring the debt owed to France. Combined with the efforts of other creditors, it will help Zambia return to a sustainable debt path, in line with the objectives of the program supported by the International Monetary Fund.</p>
<p>This deal adds to the efforts already made by France to support Zambia in recent years. In response to the droughts caused by the El Niño phenomenon, France granted a budgetary aid of 16 million euros over two years (2023-2024) to finance emergency food programs.</p>
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<p><em>The Official Creditors Committee (OCC) for Zambia includes: Belgium, China, Denmark, France, India, Israel, Italy, Japan, the Netherlands, the Russian Federation, Saudi Arabia, South Africa, Sweden, Switzerland, the United Kingdom, the United States.</em></p>
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<p> </p>06fa22fc-cf83-4436-add6-92d2816c4270Economic wrap-up of Southern Africa - week 12Economic wrap-up of Southern Africa from 18 to 22 March 2024, written by the Pretoria Regional Economic Service2024-03-25T00:00:00+01:00<ul type="disc">
<li><strong>Botswana : </strong>S&P agency maintains BBB+ sovereign rating (<em>S&P Global Ratings</em>)</li>
<li><strong>South Africa :</strong> Central Bank management team reappointed (<em>Resbank</em>)</li>
<li>Inflation rises slightly in February (<em>StatsSA</em>)<u> </u></li>
<li><strong>South Africa :</strong> Inflation rises slightly in February (<em>StatsSA</em>)<u> </u></li>
<li><strong>South Africa :</strong> Opening up Transnet's rail and port infrastructure to the private sector takes shape (<em>BusinessDay</em>)</li>
<li><strong>South Africa :</strong> Gauteng province under water stress (<em>Engineering News</em>)</li>
<li><strong>South Africa :</strong> Orange Marine ship sent to repair submarine cable cut that slowed internet traffic in sub-Saharan Africa (<em>My BroadBand</em>)</li>
<li><strong>South Africa :</strong> Markus Jooste, former CEO of Steinhoff, commits suicide (<em>Business Day</em>)</li>
<li><strong>Southern Africa : </strong>South Africa and Namibia plan to invest EUR 345m to upgrade their rail and port infrastructure (<em>Nairametrics</em>)</li>
<li><strong>Zambia : </strong>The World Bank grants a USD 100 million subsidy for the energy sector <em>(World Bank)</em></li>
<li><strong>Zimbabwe : </strong>Sharp drop in Zimbabwe's maize harvest due to historic drought in southern Africa (<em>Agence Ecofin)</em></li>
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