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with the private creditors Zambia is pushing hard to complete restructuring of nearly 15 billion US dollars of external debt in the first quarter of 2023. its Finance Minister Satan baker miskatwani said on Wednesday discussions are very promising the southern African country defaulted on its sovereign debt in 2020 and is now on a quest to restructure its loans and rebuild a ravaged economy in August Zambia won IMF approval for a 1.3 billion dollar three-year Loan program in October the government which took power last year said it needs a present value debt reduction by 2027 of 6.3 billion dollars or 49 of the debt being restructured to meet IMF targets some International bondholders have previously said that level would be unacceptable but speaking at the Reuters next Summit musketwani said engagement with bondholders had been very positive everybody recognizes the fact that this is the only way in which uh Zambia and of course the Creditor themselves can research the economic parame