Tag: Zambia
Related Posts
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 ...
Wait. Is 11.11 is Actually a Thing in Zambia? Really?
Today is the most important day on the calendar for hundreds of millions of Chinese consumers, who are expected to buy an astonishing $45 billion worth of stuff in just 24 hours. Yes, that almost $2 billion AN HOUR. While Singles Day (named for being the anti-Valentine's ...
Africa, You’re On Your Own
Back in March, Ethiopian Prime Minister Abiy Ahmed was the first leader to sound the alarm that Africa's economies were "staring at an abyss" due to the financial crisis brought on by the COVID-19 pandemic. He rightly predicted that without urgent, large-scale assistance, ...
Reuters: Zambia Claims It’s Shared Chinese Loan Details With Bondholders, But Investors Say They’re Still in the Dark
The Zambian government, according to Reuters, says it's doing "everything possible" to avoid defaulting on billions of dollars of Eurobonds, including acceding to investor demands that it reveal the extent of its Chinese loan portfolio. “We’ve given all the information that needs 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.
The G20 is Going to Try One More Time to Get Everyone Together to Come Up With a Debt Relief Plan for Poor Countries
Finance Ministers and central bankers from the Group of 20 will convene an extraordinary meeting on November 13th in a bid to come up with a more robust debt relief plan for the world's poorest countries. A couple of weeks ...
The China Development Bank’s Debt Deferral in Zambia is a Good Start, But It’s Not Enough
The China Development Bank's (CDB) announcement yesterday that it will allow Zambia to push back an interest payment that was due last Sunday to next April was an unexpected development. After all, we haven't seen China's powerful policy banks publicly demonstrate ...
Zambia Reaches Debt Deferral Agreement With China Development Bank
Zambia's Secretary to the Treasury Fredson K. Yamba announced that his office has reached a debt restructuring agreement with the China Development Bank on one of its loans. It's important to note that the statement explicitly mentions a single loan and does not refer to CDB's broader loan portfolio ...
18 Days and Counting Until Zambia’s D-Day (aka Debt Day)
In less than three weeks, a group of Zambian bondholders, mostly in New York and London, will reconvene to vote on whether or not to approve Lusaka's request for a six-month repayment holiday on about $3 billion of Eurobond notes that are coming due. ...
Analyst: Zambia Owes More Than Double the $12 Billion to China and Other External Creditors
Zambia owes $27 billion to external creditors rather than the $12 billion figure that is widely circulated in the media, according to Brad Setser's reading of World Bank data on external debt. Setser, a senior fellow at the Council on Foreign Relations in New York, explained in ...
With a Golden Boot on Her Foot, Barbara Banda Returns Home From China as a Star
20-year old Women's Chinese League sensation Barbara Banda returned home to Zambia last week where she was greeted as a genuine star after winning the Golden Boot, the league's most valuable player award. Banda trained with the Lusaka Dynamos Ladies FC as ...
Bloomberg Asks Zhao Lijian the $4 Billion Dollar Question About Its Zambian Loans: “Will China Opens Its Books?”
Foreign Ministry spokesman Zhao Lijian faced questions yesterday by a Bloomberg reporter as to whether Beijing would do more to help alleviate investor concerns over the lack of transparency of China's loans to Zambia. Zhao echoed a brief comment published on ...