LONDON, Sept 7 (Reuters) - Zambia has kicked off the process of registering its Eurobond creditors, bringing the country another step closer to tackling its hefty debt burden.

One of the world’s largest copper producers, Zambia owes money to four main types of creditor. It has $3 billion of Eurobonds outstanding and owes $2 billion to commercial banks, $2 billion to the International Monetary Fund and World Bank and another $3 billion to China.

Zambia’s Finance Ministry said in an authorisation letter that its financial adviser Lazard had appointed Morrow Sodali to gather information on the holders of its three outstanding Eurobonds and “facilitate communications”.

In May, Zambia’s government appointed debt specialists Lazard to advise on how to overhauls its foreign-currency debt.

Meanwhile, its three outstanding dollar-denominated bonds have recorded sharp gains in recent days. The 2022, 2024 and 2027 issues all traded around 55 cents in the dollar, having gained around 3 cents since the start of the month and up from levels below 30 cents in late March and early April, during the height of the coronavirus crisis.

“Sub-Saharan bonds in general have recovered on massive G7 central bank liquidity injections, the pick-up in commodity prices, a stronger performance than many so-called ‘developed country’ peers in dealing with Covid-19, and solid emergency macro policies in countries such as Angola and Ghana,” said Simon Quijano-Evans, chief economist at Gemcorp Capital LLP.

Furthermore, the bonds had benefited from peers across the region making progress in debt forbearance talks with China and the Paris Club of creditor nations. Paris Club creditors agreed in late August to give Angola debt service relief until the end of 2020.

In June, 10 of Zambia’s international bondholders said they had formed a creditor group to facilitate debt talks with the government.

“Looking ahead, all eyes will now be on what plans Zambia may have with regard to liability management, coupled with a much-needed IMF loan program,” said Quijano-Evans.