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That could underpin debt-restructuring talks with external creditors.
By Matthew Hill and Taonga Clifford Mitimingi, Bloomberg
5 Feb 2021 11:40
Image: Shutterstock
Zambian Finance Minister Bwalya Ngâandu expects to secure an International Monetary Fund loan that could underpin debt-restructuring talks with external creditors before the nation holds elections in August.
The government in November became Africaâs first pandemic-era sovereign defaulter after missing a coupon payment on one of its $3 billion of Eurobonds. Holders of the notes have set a deal with the Washington-based lender as a condition for restructuring their debts, but some have expressed concern that it wonât be concluded before the poll.