Zambia’s international bondholders have reportedly started debt formal talks with the government, a key step to restructure more than US$3 billion of overseas bonds, according to Reuters.
Reuters reported that three sources told the news agency that a group of Zambia’s biggest private creditors had entered into a restricted period, which meant they temporarily could not trade the country’s notes in exchange for non-public information.
The sources were reportedly asking not to be named because the discussions were private.
The non-disclosure agreements (NDA) would be still in place next week, one of the sources added, when Zambia officials and creditors are set to meet in person during the World Bank and International Monetary Fund annual meetings in Marrakech.
Reuters reported that the Zambia Finance and National Planning Ministry declined to comment.
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