JOHANNESBURG (Reuters) – The Zambian government said in a presentation to investors on Friday that it hoped it would agree debt relief terms with official creditors by the end of the year or early 2023.
Zambia was the first African country to default on its sovereign debt during the COVID-19 era.
The presentation also said Zambia aimed to reach an “in principle” restructuring agreement with a bondholders’ committee in the first quarter of next year.
The government of Africa’s second-largest copper producer added that creditors’ preferences would be accommodated as much as possible in the restructuring.
(Reporting by Rachel Savage; Writing by Anait Miridzhanian; Editing by Alexander Winning and James Macharia Chege)
