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It’s Eerily Quiet 24 Hours Before Zambia’s Bondholders Reveal Their Decision on Whether to Restructure the Country’s Debt

File photo of Zambian president Edgar Lungu. GULSHAN KHAN / AFP

The Zambia External Bondholder Committee, a coalition of private creditors that own around 40% of Zambia’s Eurobond debt, is expected to announce tomorrow whether they will approve the government’s request for a six-month repayment delay on $3 billion of Eurobond notes.

Committee members reportedly voted on Wednesday. If they reject the proposal, as is widely expected, Zambia will officially default on its debt on Saturday. This will make Zambia the first African country to do so this year.

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