Zambian President Edgar Lungu on Tuesday held talks with a top official from the International Monetary Fund (IMF).
The Zambian leader met IMF African Department Director Abebe Aemro Selassie at the State House, according to a release from his office.
The two discussed wide-ranging issues regarding Zambia’s relations with the international lender and the way forward, according to the release.
According to a statement issued by the IMF, the official was in the country as part of an assessment following Zambia’s request for an IMF financing agreement.
The statement said the Zambian authorities have formally requested a financing agreement to support their reform efforts which were currently being assessed.
The IMF official and his delegation will be in Zambia up to Dec. 9.
Last month, Zambia became Africa’s first COVID-19 era sovereign default nation after it failed to pay a 42.5 million U.S. dollars coupon on one of its Eurobonds.
The Zambian economy faces severe battering which has been worsened by the COVID-19 pandemic. Enditem