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This Chart Shows What African Union and UN Negotiators Are Desperately Trying to Avoid

Interest rates on Zambian 10-year bonds have more than doubled since January to an astonishing 38%. So, it’s not surprising there’s growing speculation that Lusaka will have no choice but to default on its $3 billion of bond holdings.

Negotiators from the African Union and the United Nations Economic Commission for Africa remain confident that they are going to reach an arrangement with bondholders and other private creditors that will keep other African countries from encountering a similar fate.

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