Reuters exclusively reports Zambia ‘doing everything possible’ to avoid looming default

Zambia is doing everything possible to avoid a sovereign debt default later this week, including sharing information on its Chinese debt with holders of its dollar-denominated bonds, its finance minister told Reuters. Reuters sources said, however, that little progress had been made in debt talks. Even before the coronavirus pandemic caused a global economic slowdown, Zambia was struggling with mounting debt due to low prices for copper, its main export.