Zambia close to default with bondholders
The bondholders are set to reject a request for a payment holiday ahead of important G20 meeting
11 November 2020 - 16:43
Maputo/Lusaka/Abuja — A key bondholder group is set to reject Zambia’s request for an interest payment holiday, putting the country on course to become the first African sovereign defaulter since the onset of the coronavirus pandemic.
There is consensus among the Zambia external bondholder committee to refuse the proposal, with a voting deadline of Wednesday ahead of Friday’s meeting with creditors, according to two people with direct knowledge of the matter who asked not to be identified because they’re not authorised to speak publicly...
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