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Investors Celebrate Zambia’s Debt Deal With China by Snapping Up Government Bonds

Zambian bonds traded at their highest levels in 18 months on Monday following news that Lusaka reached a debt deal last week with official Chinese creditors.

“China agreeing on terms means that we can get on with the private-creditor restructuring,” Sam Singh-Jami, Africa strategist at Rand Merchant Bank, told Bloomberg. “We are now a step closer for Zambia to restructure all of its external debt in a very protracted process.”

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