Zambia’s creditors forced to accept losses
Bailout from the IMF won’t be possible before August general elections
Zambia’s external creditors will have to accept losses as they negotiate debt restructuring and it won’t be possible for the government to secure a bailout from the International Monetary Fund (IMF) before general elections in August, the main opposition leader said.
Barclays economists last month forecast creditors including Eurobond holders would exit the restructuring with a 20% haircut, and that’s a reasonable starting point for talks, Hakainde Hichilema, president of the United Party for National Development, said in an interview on Thursday...
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