Tag: bondholders
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G20 Suspends Debt Repayments For Another Six Months
The G20 is providing developing countries with yet more breathing room to repay their debts. G20 finance ministers and central bank chiefs met yesterday and announced that it would extend the Debt Service Suspension Initiative by another six months from June through December.
The Bondholders’ View of the African Debt Crisis
The ongoing debt crisis in Zambia and several other African countries is proving to be much more difficult to resolve than in previous years because of the expanded role of both Chinese lenders and bondholders. Both of these creditors have starkly ...
The Challenge of Responding to the Zambian Crisis
Zambia’s slow creep towards an official default is raising a lot of discussion about how to avoid this kind of crisis from spreading. Not surprisingly, much of this focus is falling on China, and rightly so. China’s insistence on handling successive troubled loans on an opaque case-by-case ...
As Zambia Nears Default, Analysts Examine What Went Wrong
Although Zambia missed a $42.5 million bond payment on November 14th, and effectively defaulted on that portion of its debt, it's still technically not in default yet. It will probably officially cross that line within the next few days, making it the first African country this year ...
NGO: The UK, Not China is the Biggest Obstacle To Zambian Debt Relief
The next stage of the Zambian debt default crisis may play out in a London court. NGOs like Oxfam and the Jubilee Debt Campaign contend that because the vast majority of Eurobonds are covered by English law, ...
What Did We Learn From Zambia’s Eurobond Default?
As expected for months, Zambia now has the dubious distinction of being the first African country this year to default on a portion of its debt. While many have framed Zambia's failures as a consequence of the ongoing COVID-19 pandemic, many analysts have pointed ...
It’s Eerily Quiet 24 Hours Before Zambia’s Bondholders Reveal Their Decision on Whether to Restructure the Country’s Debt
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. ...
Critical Zambian Bondholder Vote to Take Place Today
A coalition of Zambian bondholders is expected to cast their votes today (Wednesday) to decide on whether or not to grant the government a six-month repayment holiday on $3 billion of Eurobond notes, according to sources quoted by Bloomberg. Results are scheduled to ...
Reuters: Bondholders to Reject Zambia’s Request for Debt Repayment Delay
A source close to the Zambia External Bondholder Committee, a coalition that holds the bulk of Zambia's $3 billion of Eurobonds, told Reuters that investors plan to vote against the government's request for a six-month repayment delay when the group convenes on November 13th.
Zambian Bondholders Expected to Reject Government’s Request for Repayment Delay
A group of Zambian bondholders is scheduled to meet on Tuesday and is widely expected to vote against the government's request for a six-month repayment holiday on $3 billion of Eurobonds. If that is in fact what happens, then it would likely prompt the government to default ...
Kenya Advised to Restructure Current Debts, Reduce Commercial Borrowing if It Wants to Avoid Default
The Washington, D.C.-based multinational NGO International Budget Partnership (IBP - it was formerly known as the Center on Budget and Policy Priorities) recently warned Kenya's National Treasury to take drastic measures in order to avoid the bottom falling out of the economy due to the ...
Letter to the Editor: Defending the Interests of Africa’s Private Creditors
Hi Mr. Olander, I work as a sovereign credit analyst at a private buy-side financial firm - I research the Sub-Saharan (and Middle East/North Africa) regions, and as such your content enriches my understanding of the countries in which we invest. ...