Creditors cite a lack of engagement by Zambia as one of the major stumbling blocks to providing near-term debt relief

On the Mining front, Permanent Secretary in the Ministry of Mines Barnaby Mulenga yesterday indicated that Zambia expects to conclude talks over buying Glencore Plc’s stake in Mopani Copper Mines Plc within a month. Mulenga, however, stopped short of disclosing the size of the stake that state-owned ZCCM Investment Holdings is trying to acquire. Moreover, it remains unclear how the cash-strapped government,  which last week defaulted on a Eurobond interest payment, would finance a deal.

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