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Zambia negotiating $3.3bn commercial debt restructuring, after bonds deal

LUSAKA – Zambia is in talks to restructure $3.3 billion of commercial debt, after reaching a deal with overseas holders of its sovereign bonds last week, an official said yesterday, as the country seeks to emerge from a three-year default.

“We have already started negotiations and with some we are almost reaching there,” Secretary to the Treasury Felix Nkulukusa said at a public meeting, referring to private creditors other than bondholders.

“The $3.3 billion is the money that we have to continue engaging (on) and we are engaging in good faith,” he said. CLICK HERE TO READ MORE


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