• Latest
  • Trending
  • All
  • Politics
  • Economy
  • Security
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Opinion
  • Columns
  • Exposé
  • World
  • Lifestyle
Zambian’s Celebrate Amidst Landmark Debt Relief Deal

Zambian’s Celebrate Amidst Landmark Debt Relief Deal

2 years ago
Nigeria's Electoral Commission Announces Date For Collection Of Voters Cards

Ethiopia To Launch Digital Voting In 2026 General Elections

1 hour ago
Kenya: Ruto Says Death Of Blogger In Police Custody “Heartbreaking”

Kenya: Ruto Says Death Of Blogger In Police Custody “Heartbreaking”

3 hours ago
SA: After Political Impasse, Parliament Passes Budget Framework

SA: After Political Impasse, Parliament Passes Budget Framework

4 hours ago
EU Blacklists Algeria, Lebanon Over Money Laundering, Delists UAE

EU Blacklists Algeria, Lebanon Over Money Laundering, Delists UAE

6 hours ago
China Grants Full Tariff Relief To African Nations

China Grants Full Tariff Relief To African Nations

6 hours ago
Wednesday, June 11, 2025
  • About
  • Privacy Policy
Heritage Times
No Result
View All Result
Translate |
  • Login
  • Politics
    Cameroon: Police Lay Siege At Opposition Leader’s Home

    Cameroon: Police Lay Siege At Opposition Leader’s Home

    At Tanzania Summit, African Leaders Call For End To DRC Conflict

    Rwanda Exits Central African Regional Bloc Over Row With DRC

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

    Sudan’s New Prime Minister Disbands Caretaker Government

    Sudan’s New Prime Minister Disbands Caretaker Government

    Ivory Coast: Opposition Coalition Insists On Electoral Reforms Ahead Of Polls

    Ivory Coast: Opposition Coalition Insists On Electoral Reforms Ahead Of Polls

    Tanzania: Lawyers Seek UN Intervention Over Detention Of Opposition Leader

    Heritage Times Congratulates Dr. Sidi Ould Tah As President-Elect Of AfDB 

  • Economy
    SA: After Political Impasse, Parliament Passes Budget Framework

    SA: After Political Impasse, Parliament Passes Budget Framework

    China Grants Full Tariff Relief To African Nations

    China Grants Full Tariff Relief To African Nations

    Zimbabwe Bans Export Of Lithium Used In Battery Manufacturing

    Zimbabwe Bans Export Of Lithium Used In Battery Manufacturing

    Binance

    After His Ordeal In Nigeria, Gambaryan Has Quit His Role At Binance

    Elon Musk Loses $34 Billion Amid Clash With Trump

    Elon Musk Loses $34 Billion Amid Clash With Trump

    World Bank Seeks Stronger, Results-Focused Partnerships For Africa’s Development

    World Bank Seeks Stronger, Results-Focused Partnerships For Africa’s Development

    Uganda: Museveni Holds Talks With Elon Musk’s Starlink Executive

    World Bank Lifts Loan Restriction Placed On Uganda Over Anti-Gay Legislation

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    South Africa's Economy Stalls With 0.1% Growth As Structural Challenges Persist

    South Africa’s Economy Stalls With 0.1% Growth As Structural Challenges Persist

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
  • Politics
    Cameroon: Police Lay Siege At Opposition Leader’s Home

    Cameroon: Police Lay Siege At Opposition Leader’s Home

    At Tanzania Summit, African Leaders Call For End To DRC Conflict

    Rwanda Exits Central African Regional Bloc Over Row With DRC

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

    Sudan’s New Prime Minister Disbands Caretaker Government

    Sudan’s New Prime Minister Disbands Caretaker Government

    Ivory Coast: Opposition Coalition Insists On Electoral Reforms Ahead Of Polls

    Ivory Coast: Opposition Coalition Insists On Electoral Reforms Ahead Of Polls

    Tanzania: Lawyers Seek UN Intervention Over Detention Of Opposition Leader

    Heritage Times Congratulates Dr. Sidi Ould Tah As President-Elect Of AfDB 

  • Economy
    SA: After Political Impasse, Parliament Passes Budget Framework

    SA: After Political Impasse, Parliament Passes Budget Framework

    China Grants Full Tariff Relief To African Nations

    China Grants Full Tariff Relief To African Nations

    Zimbabwe Bans Export Of Lithium Used In Battery Manufacturing

    Zimbabwe Bans Export Of Lithium Used In Battery Manufacturing

    Binance

    After His Ordeal In Nigeria, Gambaryan Has Quit His Role At Binance

    Elon Musk Loses $34 Billion Amid Clash With Trump

    Elon Musk Loses $34 Billion Amid Clash With Trump

    World Bank Seeks Stronger, Results-Focused Partnerships For Africa’s Development

    World Bank Seeks Stronger, Results-Focused Partnerships For Africa’s Development

    Uganda: Museveni Holds Talks With Elon Musk’s Starlink Executive

    World Bank Lifts Loan Restriction Placed On Uganda Over Anti-Gay Legislation

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    South Africa's Economy Stalls With 0.1% Growth As Structural Challenges Persist

    South Africa’s Economy Stalls With 0.1% Growth As Structural Challenges Persist

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
No Result
View All Result
First with the News

Zambian’s Celebrate Amidst Landmark Debt Relief Deal

June 23, 2023
in Top Stories, World
0
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

By Ebi Kesiena

On Friday, Jubilant lawmakers in Lusaka sang Zambia’s national anthem after foreign lenders agreed to restructure part of the country’s debt, a move that entrepreneurs said brought hope for the crippled economy.

Relatedreading

Ethiopia To Launch Digital Voting In 2026 General Elections

Kenya: Ruto Says Death Of Blogger In Police Custody “Heartbreaking”

Relief was palpable in the capital Lusaka, where legislators in parliament belted out the national anthem in celebration.

In the city’s business district, groups of people shared copies of the morning newspapers, whose front pages were dominated by the debt story.

“It’s finally done,” the Zambia Daily Mail headlined, while the Times of Zambia led with “Bailout.”

According to the finance ministry figures, the country’s total debt at the end of 2022 amounted to $32.8 billion, including $18.6 billion owed to foreign lenders.

Part of the debt is held by the International Monetary Fund (IMF), World Bank and multilateral development banks and is not covered by the restructuring.

A French official said the agreement covered $6.3 billion of bilateral debt, of which $4.1 billion is owed to China.

Private creditors, who are owed $6.8 billion, will have to “make a similar effort to what we have done,” the official said.

The restructuring deal came on Thursday at a two-day summit in Paris hosted by French President, Emmanuel Macron.

The victory is a major success for President Hakainde Hichilema, who swept to power in 2021 on the back of promises to revive the economy, root out graft and woo back scared investors.

“Unlike our colleagues that defaulted on repaying the debt we have secured a debt restructuring program,” said Garry Nkombo, an MP with Hichilema’s party.

Mooya Chilala, who runs a small business selling fertilizer and seeds, said he believed the deal would ease economic pressure on Zambia and improve living conditions for many people.

“This is something that the previous government attempted for years,” the 44-year-old father of four said. “It’s a good thing for the country.”

Zambia is Africa’s biggest copper producer, with a population of nearly 20 million people.

Tags: breakingHeritageheritage timesheritagetimesmedialatestnewsPresident Hakainde Hichilemathe heritage timesthtthtafricatop stories
ShareTweetSend
Previous Post

Russia Destabilising Power In Africa, French President Macron Alleges

Next Post

Ugandan Young Activist Urge World Leaders To Reflect On Climate Crisis

Related Posts

Nigeria's Electoral Commission Announces Date For Collection Of Voters Cards

Ethiopia To Launch Digital Voting In 2026 General Elections

June 11, 2025
Kenya: Ruto Says Death Of Blogger In Police Custody “Heartbreaking”

Kenya: Ruto Says Death Of Blogger In Police Custody “Heartbreaking”

June 11, 2025

SA: After Political Impasse, Parliament Passes Budget Framework

EU Blacklists Algeria, Lebanon Over Money Laundering, Delists UAE

China Grants Full Tariff Relief To African Nations

SA: Eight Bodies Found After Flood Swept Away School Bus

Next Post
Ugandan Young Activist Urge World Leaders To Reflect On Climate Crisis

Ugandan Young Activist Urge World Leaders To Reflect On Climate Crisis

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2

Updates

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Nigeria's Electoral Commission Announces Date For Collection Of Voters Cards

Ethiopia To Launch Digital Voting In 2026 General Elections

June 11, 2025
Kenya: Ruto Says Death Of Blogger In Police Custody “Heartbreaking”

Kenya: Ruto Says Death Of Blogger In Police Custody “Heartbreaking”

June 11, 2025
SA: After Political Impasse, Parliament Passes Budget Framework

SA: After Political Impasse, Parliament Passes Budget Framework

June 11, 2025
EU Blacklists Algeria, Lebanon Over Money Laundering, Delists UAE

EU Blacklists Algeria, Lebanon Over Money Laundering, Delists UAE

June 11, 2025
JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia
ADVERTISEMENT

Most Recent

Ethiopia To Launch Digital Voting In 2026 General Elections

June 11, 2025

Kenya: Ruto Says Death Of Blogger In Police Custody “Heartbreaking”

June 11, 2025

SA: After Political Impasse, Parliament Passes Budget Framework

June 11, 2025

EU Blacklists Algeria, Lebanon Over Money Laundering, Delists UAE

June 11, 2025

China Grants Full Tariff Relief To African Nations

June 11, 2025

SA: Eight Bodies Found After Flood Swept Away School Bus

June 11, 2025

England Succumb To First African Defeat In Senegal Friendly

June 11, 2025

UN Peacekeepers Escape Attack In Southern Lebanon

June 10, 2025

About

Heritage Times HT stands as a beacon of pan-African journalism, dedicated to amplyfing the rich tapestry of voices and narratives across the continent. With unwavering commitment, we illuminate the evocative essence of Africa, offering a fresh perspective that captivates our global audience.

Featured

AfDB Set For A New President, As Ould Tah Gains Continental Endorsement

How Dangote Is Turning Trump’s Trade War Into Africa’s Opportunity

Nigeria @ 64: Meet Young Luminaries Leading Social Transformation

Connect

Connect with us on social media and receive timely updates on the go.

Get Updates

  • About
  • Privacy Policy

© 2024 Heritage Times (HT) Media.

No Result
View All Result
  • Welcome
  • Politics
  • Economy
  • Security
  • Exposé
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Columns
    • Opinion
  • World
  • __________________
  • Make a Donation
  • Photo Speaks
  • Videos
  • You-Report
  • Whistleblower
  • Advertise
  • HT Events
  • About HT
  • Contact us

© 2024 Heritage Times (HT) Media.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In