Zambian currency weakens to a record low as bondholders reject debt delay
30 September 2020 - 16:31
Maputo/Abuja — Zambia’s Eurobonds extended declines and its currency weakened to a record against the dollar after a group of bondholders rejected the government’s request for a 6-month suspension of interest payments.
The announcement on Wednesday, a day after the nation held a webcast to try convince creditors to approve the freeze while it drafts a restructuring plan, suggests any deal with creditors will take longer to reach than the speedy resolution the government outlined on Tuesday. Zambia’s next coupon payment is due on October 14...
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