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Zambia Gets an Unexpected Reprieve From Bondholders, But Serious Concerns About the Country’s Debts to China Persist

by Eric Olander

Zambia’s private creditors gave the embattled country an additional three weeks to come up with a plan on how to resolve its burgeoning debt crisis. A group of bondholders would have voted yesterday on whether to accept the finance ministry’s request for a 6-month repayment holiday for $3 billion of Eurobonds that are coming due. 

But too many abstained from Tuesday’s vote and said they would return to review the issue on November 13th.

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