President Lazarus Chakwera says he will hold discussions with Chinese government officials on Malawi’s debt restructuring plan that aims at improving debt sustainability.

Chakwera disclosed this at Lilongwe International Airport on Tuesday when leaving for China to attend the third China-Africa Economic and Trade Expo (CAETE) slated for June 28 to July 2, 2023.

President Chakwera said the country’s huge loans with China needs restructuring so that huge funds which are being used for repayment of the loans can be channeled to development projects.

Mr. Chakwera said the restructuring would help the country to acquire the International Monetary Fund’s (IMF) Extended Credit Facility (ECF).

Posting on his social media pages on Tuesday, Chakwera said he will seek cooperation on a number of issues including medical and health, poverty reduction and agricultural development, trade promotion, investment promotion, digital innovation, green development, capacity building, cultural and people-to-people exchange, peace and security.