Zambia "doing everything possible" to avoid default -FinMin

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