ECONOMIST Lubinda Haabazoka says the $335 million debt restructuring deal Zambia has clinched with EXIM Bank of India is a step in the right direction. Haabazoka says the deal may encourage other major creditors such as the African Development Bank (AfDB) and the Development Bank of Southern Africa (DBSA) to engage more actively and conclude their own restructuring discussions with Zambia. In an interview, Thursday, Haabazoka said Zambia’s conclusion of discussions with major creditors would be instrumental in finalising the country’s comprehensive debt restructuring process and fully restoring fiscal credibility. “Importantly, this agreement could have a catalytic effect. It sets a positive precedent and may encourage other major creditors such as the African Development Bank (AfDB) and the Development Bank...