ZAMBIA AND ISRAEL SIGN DEBT RESTRUCTURING DEAL - nbc

Added: 2026-05-20

[00:00:00]The agreement, signed at the Minister of Finance and National Planning in Lusaka, provides for the restructuring of the outstanding obligations through to 2043.

[00:00:10]It forms part of Zambia's broader efforts to restore debt sustainability, strengthen fiscal resilience, and support long-term economic recovery.

[00:00:20]The debt relates to facilities supported by Israel's foreign trade risk insurance corporation limited, covering sectors including agriculture, defense, and health care.

[00:00:33]Speaking during the signing ceremony, Minister of Finance and National Planning, Situmbeko Musokotwane, said the agreement demonstrates the progress Zambia continues to make in restoring fiscal discipline and rebuilding international confidence.

[00:00:48]Musokotwane said the structuring arrangement would help reduce debt service pressures and create additional fiscal space for strategic investment in infrastructure, economic recovery programs, and social sector support.

[00:01:04]Israeli Ambassador to Zambia, Ofra Farhi, reaffirmed Israel's commitment to maintaining strong bilateral relations with Zambia.

[00:01:13]The agreement forms part of Zambia's ongoing debt restructuring program under the G20 common framework for debt treatment, which seeks to restore long-term debt sustainability, strengthen macroeconomic stability, and support inclusive economic growth.

[00:01:30]Wamundila Chilinda, NBC News, Lusaka, Zambia.