Zambia says Industrial & Commercial Bank of China, Bank of China debt 'treated as commercial'

  • 📰 ReutersAfrica
  • ⏱ Reading Time:
  • 9 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 53%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

Zambia's debts to the Industrial & Commercial Bank of China and Bank of China will be treated as commercial in debt talks, a senior finance ministry official said Thursday, after a deal was struck with bilateral creditors including China last week.

LUSAKA, June 29 - Zambia's debts to the Industrial & Commercial Bank of China and Bank of China will be treated as commercial in debt talks, a senior finance ministry official said Thursday, after aZambia, which has been in default for nearly three years, reached an agreement last week to restructure $6.3 billion of bilateral debts and its international bondholders expect to strike a restructuring deal in theDebt of $4.

"The money we owe Industrial & Commercial Bank of China and other money we owe to Bank of China will be treated as commercial," Nkulukusa said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 31. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines