Zambia: Remarks by Secretary of the Treasury Janet L. Yellen at Bilateral Meeting with the President of Zambia Hakainde Hichilema

"I greatly appreciate the opportunity to exchange views with President Hichilema here in Zambia. We continued discussions about addressing debt sustainability, deepening economic reforms, furthering growth, reducing poverty, and combatting corruption and illicit finance." - U.S. Treasury Secretary Janet Yellen
document

Lusaka — As Prepared for Delivery
President Hichilema thank you for welcoming me to Lusaka today.

It’s a pleasure to see you again following our meeting in Washington during the Africa Leaders Summit, and this time in your home country.

The United States highly values our relationship with Zambia, and we seek to deepen our economic cooperation over the coming years. Our partnership is particularly crucial as we face significant global economic headwinds – including spillovers from Russia’s brutal war in Ukraine.

We had a wide-ranging discussion in December about Zambia’s economic recovery and growth, addressing debt sustainability, and deepening our trade and investment ties.

I look forward to further conversation about the broad economic reforms that your government is undertaking to deliver sustainable growth and reduce poverty.

I also believe that it is overdue to conclude debt treatment for Zambia under the Common Framework.

The United States insists that all major bilateral official and private creditors meaningfully participate in this debt relief, including China. It is our view that timely and comprehensive debt treatment can serve the interests of both debtors and creditors.

In addition, President Hichilema and I will discuss how Zambia can help to tackle global challenges that have serious ramifications at the national level, including food security, which has worsened in this country and globally over the past year, as well as investing in healthy populations and preparedness for future health shocks.

And of course, we will discuss the importance of continuing your efforts to systematically tackle corruption.

I greatly appreciate the opportunity to exchange views with President Hichilema here in Zambia, and for his warm welcome and hospitality. I look forward to our conversation and continued work to strengthen our bilateral economic integration.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.