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Zambian president to meet IMF, World Bank in Washington
CGTN
Hakainde Hichilema, Zambia's president, attends a joint press conference, on Wednesday, Sept. 22, 2021, Ken Cedeno/Getty Images

Hakainde Hichilema, Zambia's president, attends a joint press conference, on Wednesday, Sept. 22, 2021, Ken Cedeno/Getty Images

Zambia's president is due to meet officials at the International Monetary Fund and World Bank in Washington, his spokesman said, as the southern African nation tries to secure a lending program to help it emerge from a debt crisis.

President Hakainde Hichilema's spokesman, Anthony Bwalya, in a statement issued from New York, did not say when the meetings would take place.

In November, Zambia became the first African country to default on its sovereign debt during the COVID-19 pandemic after failing to keep up with payments on nearly $13 billion of international debt. About a quarter of this debt is held by either China or Chinese entities via deals shrouded in secrecy clauses, complicating negotiations for IMF relief.

Hichilema is in the United States for the U.N. General Assembly. He won a landslide election victory in August, beating incumbent Edgar Lungu, and has pledged to reduce the fiscal deficit, restore economic growth and review mining policies in Africa's second-largest copper producer.

His finance minister said last month securing an IMF program was critical to restoring creditor confidence and giving the government access to cheaper and longer financing.

(With input from agencies)

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