The Steering Committee of External Bondholders of Zambia (“the Committee”) announced that it had reached an agreement in principle with the Government of Zambia.

The agreement with Zambia covers the restructuring of 5.375% bonds due 2022 in the amount of $750,000,000, 8,500% bonds due 2024 in the amount of $1,000,000,000, and 8.970% amortizable bonds due in 2027 in the amount of $1,250,000,000 (collectively, the “eurobonds”). This agreement will provide Zambia with significant relief from cash flows and outstanding debt to support the financé IMF's restoration of macroeconomic and debt sustainability under the program and to address default. for a long time on eurobonds. The Committee appreciates the collaborative and transparent discussions with the Government that made it possible to reach an agreement in principle