"The 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, 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, 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, Musokotwane said engagement with bondholders had been "very positive".
"Everybody recognizes the fact that this is the only way which Zambia and of course the creditors themselves can reset the economic parameters so that this country can continue to be an active participant on the world economic scene in many other ways."
Zambia's largest bilateral creditor is China.
At the end of 2021, Chinese creditors accounted for almost $6 billion of Zambia's external debt, which was then a little over $17 billion.
Musokotwane said Zambia was "actively engaged" with China - which had asked for a number of clarifications.
China wants more clarity on the IMF assumptions on which the loan program is based, he said, since these are meant to form the basis of the restructuring negotiations between Zambia and all its creditors.
Musokotwane also said he hoped to make an announcement by the first quarter of next year about potential new investors in the Konkola and Mopani copper mines.
"The amount of interest we are seeing in the mining sector is phenomenal."
Zambia's government is aiming to treble copper production to 3 million tonnes per year within the next decade in what is Africa's second largest producer of the mineral.
