Zambia hopeful it can agree debt restructuring terms with Afreximbank

Zambia's government is hopeful that it can agree debt restructuring terms with Afreximbank, even though the matter is under arbitration, a senior Zambian finance official said on Thursday.

"We have continued discussing (with Afreximbank), and we believe that matter can come out of arbitration and we can be able to resolve it," Felix Nkulukusa, Zambia's Secretary to the Treasury, said at an event in the capital Lusaka.

A dispute over whether the Southern African country must restructure debts to Afreximbank have complicated – and extended – its path out of debt default.

Zambia has reached agreements with creditors for 94% of the debt it wants to restructure, and Nkulukusa said the government believed the remaining "6% of the debt will be done very soon".