Zambia 'doing everything possible' to avoid default -FinMin

Finance Minister Bwalya Ng'andu said his country was in discussions with holders of dollar-denominated sovereign bonds "on a continous basis" in an effort to reach an agreement.
Finance Minister Bwalya Ng'andu said his country was in discussions with holders of dollar-denominated sovereign bonds "on a continous basis" in an effort to reach an agreement.
Image: Sezer özger/123rf

Zambia is doing everything possible to avoid a sovereign debt default later this week, including sharing information on its Chinese debt with creditors, its finance minister told Reuters on Monday.

Zambia missed payment of a $42.5 million coupon on one of its Eurobonds last month. A 30-day "grace period" expires on Friday.

Finance Minister Bwalya Ng'andu said his country was in discussions with holders of dollar-denominated sovereign bonds "on a continous basis" in an effort to reach an agreement.

Reuters

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