Abstract:
Zambia is the first country after the COVID-19 pandemic effect on the global economy by securing an agreement with her official creditors on debt restructuring. This article provides an in-depth analysis of the debt restructuring efforts undertaken by the Zambian government and its implications for the Zambian economy. It examines the causes and consequences of Zambia's mounting debt burden, the rationale behind debt restructuring, and the role of sound leadership in navigating the economic challenges. Through a comprehensive review of existing literature and empirical evidence, this article sheds light on the impact of debt restructuring on the Zambian economy and emphasize the importance of effective leadership in managing in crises. By examining the experiences and lessons learned from Zambia, this manuscript seeks to provide valuable insights into the interplay between debt restructuring, economic stability, and effective governance.
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