4 days ago
Zambia says Afreximbank loan is commercial and will be restructured
LUSAKA, June 6 (Reuters) - Zambia's Afreximbank loan is commercial and will be restructured, the country's treasury secretary said on Friday.
"We are still negotiating with them. The debt will be restructured," Secretary to the Treasury Felix Nkulukusa told Reuters in Lusaka in response to a question on the status of Zambia's loan with Afreximbank.
"It's not a concessional loan, it's a commercial loan."
The African lender has said it is a multilateral institution which, like the IMF and the World Bank, is exempt from taking losses when countries default.
