The long-awaited debt restructuring deal for Zambia and Ghana is still pending. At last week’s IMF and World Bank annual meeting in Marrakech, Morocco, it was widely mentioned that Zambia had finalized a restructuring deal. The expectation was that Ghana would follow. But a week later, there is no confirmation yet. Ghana is the most indebted African country to the IMF while Zambia was the first to default on its debt following the pandemic in 2020. Debt restructuring has become critical for these economies to bring debt burden back to sustainable levels and reduce the impact of heavy debt repayments on the fragile socioeconomic environment.
