Zambia says it can’t pay back debt in Africa’s first Covid related sovereign default

November 16, 2020

Banks may be pricing in currency adjustment in Eurobond recall

Zambia is squaring up for a bruising encounter with foreign bondholders after saying it cannot pay interest on one of its Eurobonds, in Africa’s first sovereign default since the coronavirus pandemic struck. A refusal by bond investors on Friday to grant debt relief to the government sets the t

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