LONDON (Reuters) – There needs to more progress on debt relief for poorer countries, the co-chair of the Paris Club group of creditor nations said on Tuesday, amid criticisms of the slow speed of restructuring processes for Zambia, Chad and Ethiopia.
Bilateral lenders were “learning to work more efficiently”, William Roos, a French Treasury official, said at a virtual event hosted by the African Development Bank.
He noted that it had taken two meetings under the Group of 20 leading economies’ Common Framework debt restructuring process for Zambia’s official creditors to come to the agreement the IMF needs to sign off a funding programme, compared to five to six in the case of Chad.
(Reporting by Rachel Savage; editing by Marc Jones)
