LUSAKA – Zambia wants to refinance portions of Africa’s No. 2 copper producer’s Chinese debt and its Eurobonds as part of a debt austerity plan, its finance minister said on Monday.
Finance Minister Margaret Mwanakatwe said a high level mission from Zambia would travel to China in August to firm up discussions in order to create smooth cash flows. Mwanakatwe also said refinancing its Eurobonds was not in any way a failure to repay them.
Reporting by Chris Mfula; Editing by James Macharia