Zambia dealt major setback as official creditors object to bond deal
By Rachel Savage and Karin Strohecker JOHANNESBURG/LONDON (Reuters) -Zambia suffered a major setback in its debt restructuring efforts after the government on Monday said a revised deal to rework $3 billion of…
IMF sees Zambia agreement with official creditors ‘within a few days’
NEW YORK (Reuters) – The International Monetary Fund is encouraged by the progress in discussions between Zambia and its official creditors, and an agreement could be reached “within a few days,” the…
Zambia has sent debt restructuring proposal to official creditors
LONDON (Reuters) – Zambia has sent a debt restructuring proposal to its official creditors, a spokesperson for the government’s advisors said on Monday. The country, which was the major sovereign casualty of…
Zambia sent bondholders debt restructuring proposal, finance ministry says
By Jorgelina do Rosario and Rodrigo Campos WASHINGTON/NEW YORK (Reuters) – Zambia last week gave its bondholders a “concrete proposal” for the restructuring of some $3 billion in eurobonds, the ministry of…
Zambia reforms could go to waste if restructuring delayed further -Treasury Secretary
By Jorgelina do Rosario and Andrea Shalal WASHINGTON (Reuters) -Zambia could lose gains achieved so far from macroeconomic reforms if its ongoing debt restructuring is further delayed, Treasury Secretary Felix Nkulukusa said…
World Bank releases $100 million for Zambia amid delays in debt restructuring
LUSAKA (Reuters) -The World Bank is releasing $100 million for Zambia amid substantial delays in its debt restructuring efforts as its creditors drag their feet, it said on Wednesday. The World Bank…
Billionaire-backed KoBold Metals to invest in Zambia copper mine
JOHANNESBURG (Reuters) – California-based artificial intelligence exploration firm KoBold Metals is investing $150 million to develop a copper mine in Zambia, the company announced at the U.S.-Africa Leaders Summit in Washington, D.C.,…
IMF to assess Zambia in spring, urges debt deal with creditors
LONDON (Reuters) – The International Monetary Fund has urged default-stricken Zambia to strike a debt restructuring deal with its international creditors as soon as possible and will make a formal assessment of…
Zambia debt negotiations likely to drag into next year – sources
By Andrea Shalal WASHINGTON (Reuters) -World Bank and IMF officials are pressing Zambia’s creditors to accelerate negotiations on reducing the country’s official debt burden, but sources familiar with the process said they…
Zambia finance minister eager to renegotiate debt, awaits China’s team
By Jorgelina do Rosario and Rachel Savage WASHINGTON/JOHANNESBURG (Reuters) – Zambia’s finance minister said on Saturday it is still unclear who will be leading talks for renegotiating its nearly $6 billion debt…
Zambia in touch with China, other creditors, finance minister says
JOHANNESBURG (Reuters) – Zambia remains in touch with China and all its other creditors as it continues to negotiate a debt restructuring, finance minister Situmbeko Musokotwane said at an International Monetary Fund…
IMF chief Georgieva aims to complete Zambia, Chad debt restructuring by year-end
By Andrea Shalal WASHINGTON (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva on Monday said she hoped debt restructuring efforts for Zambia and Chad could be completed by the end of…
BlackRock, bondholders must cancel Zambia debt -economists, experts
JOHANNESBURG (Reuters) – Over 100 economists and development experts on Friday called for asset manager BlackRock and other holders of Zambian bonds to cancel some of that debt, saying continuing to pay…
IMF anticipates no further relief needed for Zambia post-debt programme
By Chris Mfula LUSAKA (Reuters) – The International Monetary Fund (IMF) does not anticipate any relief for Zambia after the end of a 2022-2025 debt programme, its mission chief Allison Holland said…
Zambia not to pay euro bond due in September – Finance Minister
LUSAKA (Reuters) -Zambia will not be paying its $750 million euro bond due in September until new terms of payment are agreed between the government and bondholders, its Finance Minister Situmbeko Musokotwane…
Zambia debt relief to mix haircuts, maturity extensions – Finance Minister official
By Chris Mfula LUSAKA (Reuters) – Zambia’s debt restructuring will be a mixture of haircuts to loans’ original value and maturity extensions, a senior Zambian finance ministry official said Thursday, after the…
Zambia leaves policy rate on hold, trims 2022 forecasts
By Chris Mfula LUSAKA (Reuters) – Zambia’s central bank kept its monetary policy rate unchanged at 9.0% on Wednesday, and lowered its inflation and economic growth forecasts for this year. The bank…
IMF calls for quick creditor agreements on Chad, Ethiopia, Zambia debts
By David Lawder WASHINGTON -The International Monetary Fund on Thursday called on creditor committees for Chad, Ethiopia and Zambia to quickly reach agreements with authorities to restructure the countries’ debts, saying this…
China committed to joining Zambia creditor committee -IMF’s Georgieva
By Rachel Savage and Jorgelina do Rosario LONDON – China has committed to joining Zambia’s creditor committee, International Monetary Fund managing director Kristalina Georgieva said on Thursday, amid complaints from Zambia’s finance…
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