Clock is ticking for Zambia on sovereign default
The Zambian government has scheduled meetings with creditors to hear whether they will grant a payment reprieve until April
13 November 2020 - 12:59
London/Lusaka — The clock is ticking down on Africa’s first post-coronavirus sovereign default, as Eurobond holders wait to see whether Zambia will make an overdue debt payment on Friday while the government hopes creditors have granted it a payment deferral.
Zambia is due to pay a $42.5m coupon on one of its $3bn dollar-denominated sovereign bonds when the 30-day grace period expires at the end of the day. The government has also scheduled meetings with creditors to hear whether they will grant the country a payment reprieve until April...
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