The International Monetary Fund on Thursday urged default-stricken Zambia to strike a debt restructuring deal with its international creditors as soon as possible and will make a formal assessment of its predicament in spring next year. Reuters reports that Zambia defaulted on its sovereign debt in 2020. In August, it won IMF approval for a $1.3 billion, three-year loan programme to help it restructure debts that the government said were $14.87 billion at the end of June 2022.