Tag: Zambia debt talks
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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 ...
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The Implosion of Zambia’s Debt Deal Signals Wider Worries
Delays in restructuring Zambian debt are weighing on the country’s economy and raise wider questions about the future of debt relief mechanisms around the world. Zambia appears stuck since the announcement last Monday that its committee of official creditors rejected a deal between ...
Sri Lankan President Upbeat About Debt Deal Amid Geopolitical Pressure
Sri Lankan President Ranil Wickremesinghe confirmed that Sri Lanka plans to announce a plan to deal with its domestic debt this week, in line with IMF benchmarks. In an interview with France24, he dismissed fears that China is delaying the process, after Chinese creditors didn’t join official debt talks in April. ...
Welcome to the New Era Where China Writes the Rules
Everyone's hailing the Zambian debt restructuring agreement that was unveiled on Friday in Paris as a major breakthrough in debt relief for the world's poorest countries. While we don't have a lot of information about what's specifically stipulated in the deal, ...
Zambia’s Landmark Debt Deal Highlights China’s Success in Setting New Rules for Development Finance
Zambian President Haikinde Hichilema looked visibly relieved following Friday's announcement that the country's creditor committee had finally reached an agreement to restructure $6.3 billion of bilateral external debt. The deal that took more than two years to finalize was unveiled by ...
File image of a worker cleaning solar panels installed on the roof of the traditional Gedhe market in Klaten, Central Java. China’s $180 billion clean tech push is reshaping the Global South, with Indonesia a key test of who controls new green industries. (Photo: DEVI RAHMAN / AFP)
By Cobus van Staden, CGSP Head of Research Remember “no blood for oil”? Decades ago, the slogan emblematized opposition to the U.S. invasion of Iraq. Its logic subsequently shifted as the United States experienced a gas and oil revolution thanks to fracking.
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 ...
The Implosion of Zambia’s Debt Deal Signals Wider Worries
Delays in restructuring Zambian debt are weighing on the country’s economy and raise wider questions about the future of debt relief mechanisms around the world. Zambia appears stuck since the announcement last Monday that its committee of official creditors rejected a deal between ...
Sri Lankan President Upbeat About Debt Deal Amid Geopolitical Pressure
Sri Lankan President Ranil Wickremesinghe confirmed that Sri Lanka plans to announce a plan to deal with its domestic debt this week, in line with IMF benchmarks. In an interview with France24, he dismissed fears that China is delaying the process, after Chinese creditors didn’t join official debt talks in April. ...
Welcome to the New Era Where China Writes the Rules
Everyone's hailing the Zambian debt restructuring agreement that was unveiled on Friday in Paris as a major breakthrough in debt relief for the world's poorest countries. While we don't have a lot of information about what's specifically stipulated in the deal, ...
Zambia’s Landmark Debt Deal Highlights China’s Success in Setting New Rules for Development Finance
Zambian President Haikinde Hichilema looked visibly relieved following Friday's announcement that the country's creditor committee had finally reached an agreement to restructure $6.3 billion of bilateral external debt. The deal that took more than two years to finalize was unveiled by ...
Investors Cautiously Optimistic About Zambia Debt Deal, But Still Wary About China’s Role
Investors welcomed the news of Zambia's debt restructuring deal with a mini rally on Friday in the country's dollar-denominated bonds. Government bonds from Ghana, Pakistan and Sri Lanka also saw similar bumps prompted by new optimism their debt restructurings will follow Zambia's example.
Chinese Media Noticeably Quiet on Zambian Debt Deal
Most major financial news outlets in the U.S. and Europe featured prominent coverage of Friday's landmark Zambian debt restructuring deal but the story was barely mentioned in China. The official state-run Xinhua news agency published a short summary of the announcement but, ...
Hichilema Refutes Western Accusations China Was to Blame for Delays in Zambia’s Debt Restructuring
Zambian President Haikinde Hichilema rejected longstanding accusations by Western governments and institutions that China was to blame for how long it took to reach a debt restructuring agreement. The president told Bloomberg TV after the deal was announced on Friday in ...
U.S. Treasury Secretary, Chinese Premier Both Scheduled to Attend Global Financial Conference in Paris
U.S. Treasury Secretary Janet Yellen and Chinese Premier Li Qiang are both scheduled to attend the Summit for a New Global Financial Pact in Paris next week, where debt relief for the world's poorest countries is expected to be high on the agenda.
Proposed New York Law Could Reshape Debt Negotiations Around the World
A bill currently under consideration in New York State could reshape sovereign debt renegotiations around the world by making private creditors accept the same losses as the U.S. government would as a sovereign creditor instead of holding out for a full payback.
How Zambia’s Debt Mix is Forecast to Evolve
This projection of how Zambia’s public and publicly guaranteed (PPG) debt servicing will shift over the next few years showed up in a recent public lecture by the Johns Hopkins University debt expert Deborah Brautigam at Peking University. PPG refers to ...
Ghana Gets Debt Breakthrough
The executive board of the International Monetary Fund (IMF) on Wednesday approved a $3 billion debt bailout deal for Ghana. The debt-distressed country will receive an immediate payment of $600 million. The announcement is a win for China, which co-chaired the official creditor ...