IMF says any aid to Zambia requires steps to restore debt sustainability

The International Monetary Fund on Friday said it was in talks with Zambian authorities about how best to support the country, which is facing Africa's first pandemic-era sovereign default.

An IMF spokeswoman said any financial support for Zambia would be contingent on steps to restore debt sustainability, and underscored the importance of every stakeholder making an effort to help countries in distress.

Asked if a default in Zambia could trigger a wave of defaults across the region, she said conditions varied, but other countries in sub-Saharan Africa might need debt restructuring if official financing was not sufficient.