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Britain cancels an estimated US $73 million in Zambian debt

    JOHANNESBURG

    Britain has cancelled about US $73 million owed by Zambia and rescheduled the repayment of an estimated US $100 million in debt to 2023, PANA reported on Thursday. Zambia's current external debts stand at an estimated US $6 billion.

    "There is widespread recognition that the burden of Zambia's debt is no longer sustainable and that something should be done about it," British High Commissioner to Zambia, Thomas Young, was quoted as saying on Thursday in Lusaka during the signing ceremony of the two packages. He added that his government had joined other nations in pressing for more generous debt repayment terms for Zambia and other African countries.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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