The Zambian kwacha reached its highest level since November 2022, touching 17 per USD after lenders, including China, agreed to restructure USD 6.3 bln in loans to Zambia. That provides significant financial relief to the nation, which defaulted on a USD 42.5 bln bond payment in November 2020 due to the impacts of COVID-19. Finance minister Musokotwane stated that the agreement is a vital step in strengthening Zambia’s economy and improving citizens’ quality of life.