President Hakainde Hichilema says the $3.5 billion dollars agreement with Eurobond holders marks an economic turnaround for Zambia.

President Hakainde Hichilema says the agreement has created space for Zambia to move resources meant for debt repayments to developmental economic needs.

The Head of state has since thanked the Zambian people for their patience stating that his administration is doing everything possible to better their lives.

The president said this in his address to the nation over the country’s landmark achievement.

Meanwhile The world Bank says Zambia’s agreement with its Eurobond holders is a major milestone in its economic transformation agenda.

World Bank Country Director Nathan Belete says his organisation recognizes the leadership of President Hakainde Hichilema in the negotiation process leading to this milestone.

Mr. Belete says President Hakainde Hichilema has demonstrated leadership through his commitment to reform the country’s macro-economic stability.