WASHINGTON, April 14 (Reuters) - Zambia final week gave its bondholders a "concrete suggestion" for the restructuring of some $three billion in eurobonds, the ministry of finance and countrywide planning observed on Friday.
"We proceed to have interaction actively with our bondholders and recommendations are being exchanged," the ministry told Reuters in a press release.
The proposal "represents our dedication to discovering a resolution that is appropriate to all events and in the parameters set out by using the IMF debt sustainability evaluation."
particulars of the suggestion have been no longer shared.
The African nation's exterior debt topped $17 billion at the conclusion of 2021, of which one-third became owed to China, according to Zambian government records.
Zambia defaulted on its overseas debt in 2020 and is engaged on a restructuring with bilateral collectors and private bondholders, but talks have dragged amid an absence of consensus on a way to supply debt reduction.
Debt relief for struggling rising market economies has been a principal point of dialogue this week on the spring conferences of the overseas fiscal Fund and World bank in Washington.
"Debt carrier is fitting a serious challenge," Sierra Leone Finance Minister Sheku A.F. Bangura instructed journalists at a press briefing in Washington on Saturday. "it's crowding out our spending on social infrastructure, principally training and fitness. Internationally we need to pool our voices collectively for a far better response ... We need a much better response on a global stage."
Reporting with the aid of Jorgelina do Rosario and Rodrigo Campos; editing via William Mallard
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