Zambia's New Finance Minister Says IMF Deal Key to Fixing Debt Problems

LUSAKA -  Zambia's new finance minister, Situmbeko Musokotwane, said in an interview aired on Sunday that it was critical to agree to a lending program with the IMF because it would give creditors confidence and the government cheaper and longer financing.

Musokotwane, appointed on Friday by recently elected President Hakainde Hichilema, faces the daunting task of trying to pull the southern African country out of a protracted debt crisis and has pledged to prioritize talks with the IMF. He told public broadcaster ZNBC he was confident Zambia would get an IMF program before the end of the year and thereafter restructure its debt.