Zambian President Edgar Lungu on Tuesday held funding talks for the country with a top official from the International Monetary Fund (IMF), the office of the leader said in a statement.
It said that the Zambian leader met IMF African Department Director Abebe Aemro Selassie at the State House.
The two, the president’s office said, discussed wide-ranging issues regarding Zambia’s relations with the international lender and the way forward.
The official, according to the office, was in the country as part of an assessment following Zambia’s request for an IMF financing agreement.
The Zambian authorities have formally requested a financing agreement to support their reform efforts which were currently being assessed.
The IMF official and his delegation will be in Zambia up to Dec. 9.
Last month, Zambia became Africa’s first COVID-19 era sovereign default nation after it failed to pay a 42.5 million U.S. dollars coupon on one of its Eurobonds.
The Zambian economy faces severe battering which has been worsened by the COVID-19 pandemic.