Since the Zambian State's non-payment in November 2020 and the Zambian authorities' appeal to find a lasting solution to the financial deadlock, France has made active efforts to identify multilateral solutions allowing Zambia to restore its budgetary sovereignty.
Over the past few years France has been committed, within the G20's Common Framework for Debt Treatments, to mobilizing Zambia's creditors, including China, to restructure Zambia's debt. In June 2023, these efforts led to a historic agreement between Zambia and 16 States holding part of the country's debt.
A new milestone was reached last week with the signature in Lusaka of a France-Zambia bilateral agreement implementing the multilateral agreement of 2023. It is the first agreement of this kind. This stage paves the way to the signing of similar agreements with the other 15 State creditors and ultimately the actual restructuring of Zambia's debt.
France reiterates its full commitment alongside Zambia to finding multilateral solutions to the challenges the country faces.