Zambia's Finance Minister Situmbeko Musokotwane attends the Annual Meetings of the International Monetary Fund and World Bank in Washington, U.S., October 15, 2022. REUTERS/James Lawler Duggan/File Photo
"We continue to engage actively with our bondholders and proposals are being exchanged," the ministry told Reuters in a statement. Zambia defaulted on its overseas debt in 2020 and is working on a restructuring with bilateral creditors and private bondholders, but talks have dragged amid a lack of consensus on how to provide debt relief.