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Zambia failed to address creditors' concerns over transparency, sustainability - source

LONDON, Nov 13 (Reuters) - Zambia’s failure to address Eurobond holders’ concerns over debt sustainability and transparency led them to reject the southern African copper producer’s request for a payment deferral, a source said on Friday.

Creditors had for six weeks sought clarity from the authorities about a credible medium-term framework for restoring fiscal sustainability and more information on its plans to deal with other creditors, the source familiar with the thinking of the creditor group told Reuters.

“Authorities have not addressed any of these concerns anywhere close to a degree which would have allowed bondholders to consider providing near-term relief,” added the source, who asked not to be named. (Reporting by Karin Strohecker; Editing by Joe Bavier)

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