Zambia has reached a significant milestone in its debt restructuring process by agreeing to a deal with a creditor group holding its international bonds.

The deal includes a $700 million write-off and $2.5 billion in cash flow relief during the period of Zambia's $1.3 billion, 38-month IMF programme.

The proposed restructuring includes issuing two new "amortising" bonds maturing in 2035 and 2053, under a "base case" scenario. Both bonds would mature in 2035 if Zambia's economy performed better.

Anchor: Tolulope Adeleru-Balogun
Guest: Caeser Cheelo, developmental economist

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