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Vol 65 No 7

Published 28th March 2024


Zambia

A debt deal redux

Zambia has finally reached an agreement to restructure its US$3 billion of Eurobonds after more than three years in default, the government announced on 25 March. The three Eurobonds will become two amortising bonds, with the principal due in 2027. This gives Zambia significant debt relief for the duration of its IMF programme, with only small interest payments due on the bonds. It enables, in parallel, a restructuring of $6bn of official creditor debt as well as commercial loans, including its hefty Chinese debts.

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