Tuesday, June 25, 2024

President Hichilema asks World Bank’s help to restructure debt owed to private creditors


President Hakainde Hichilema has called on the World Bank Group to assist Zambia conclude its debt restructuring negotiations with its private creditors.

President Hichilema said that the road leading to clinching the debt deal was difficult especially on the citizens, hence the need to bring solutions.

President Hichilema says he wants to see a speedy conclusion with creditors so that the benefits can start to show and trickle down to ordinary citizens to appreciate the process.

He was speaking when he met World Bank Director for Malawi, Tanzania, Zambia and Zimbabwe Natahn Belete and newly appointed World Bank Country Manager for Zambia Achim Fock at Statehouse.

The President indicated appreciation to the World Bank Group for the support given to Zambia especially during what he referred to as Zambia’s debt restructuring project.

The Head of State noted that the country received great support through consultations and technical assistance until the achievement of the G20 framework.

Congratulating the newly appointed Country Manager, the Head of State noted that he expects the full support of the World Bank group in order to help the government achieve its intended agenda.

The President looked forward to discussing more important matters with the World Bank, especially issues around the government’s agenda of economic transformation.

He further urged the citizens to believe in the government, that it has the capability and ability to get things done, but through a strategic process.

Meanwhile, World Bank Country Director for Malawi, Tanzania, Zambia and Zimbabwe Nathan Belete disclosed that Dr Fock comes with vast experience of 25 years in the World Bank.

Mr Belete stated that with an Agriculture background, Dr Fock will work well with the government in enhancing the sector among others.

Highlighting some of the key areas, Mr Belete revealed that the World Bank has prioritised tourism, regional connectivity and capital.


  1. HH please listen to Grant Kolala …Bazungu will never help Africa genuinely…..they’re milking our resources and you’re begging them the same you’re giving away….What is wrong with us Africans….in opposition HH was a genius now that he is in office he has become an empty tin….

    • One thing you are right about is how good whlte men are at sucking. I am speaking from experience. My ex was a white man.

    • @Grant Kolala, you’re 100% right and it’s alright to put it out there even if HH knows that already. Nothing in this world is free, everything has a price! If only someone gave us a penny for every time this harsh reality dawned upon us, I doubt we’ll want anything to be free after that. We’ll want to know the cost upfront. Everything has a price to be paid. The New dawn Govt is a dumb dumb Govt like the PF thieves never understood how to engage Internation political business.

    • I can’t believe that Lusaka Times let this sick homosexual, Wagner, destroy their website. Most likely, they’re not even aware that a lot of people have quit patronizing LT, because of all the filthy this sick individual, Wagner, keeps spamming LT with. Wake up LT before you lose all the readers. What a shame.

  2. Bollocks to above us africans milk each other always done and always will
    Go work your fella zambian and tell me i’m lying
    check the informal sector some still on 700 a month no napsa no NHI

    • Most blackmen are not fond of sucking. I am speaking from my experience of dating black men. My current boyfriend is open to it because he is exposed

  3. Mr. President.
    Finally, Kaizer Zulu is on the run. That means he’s a caged animal even if he’s not in the cage. He will never have a chance to insult me from inside the cage.

  4. What influence does the World Bank have with private bondholders? It’s really precious little. When the WB issues bonds, it is these same private bondholders who make cash available to it.

  5. He is trying to restructure not a bad thing as he is trying to alleviate the pressure on us
    Better than crying for debt right off like all passed presidents, which they thought was our given right

  6. I think this one is beginning to panic because Africa is finally exposing it’s age old problem with western puppets. 2H your time will come. It’s not coincidental that Fred gets arrested when there is noises coming from West Africa. We want change.

Comments are closed.

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site - LusakaTimes.com

Subscribe now to keep reading and get access to the full archive.

Continue reading