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Vol 65 No 12

Published 6th June 2024


Zambia

Inching towards the end of the tunnel

After three-and-a-half years of talks and geopolitical clashes, officials in Lusaka foresee a comprehensive debt restructuring within months

At last an end is in sight for Zambia’s tortuous negotiations to restructure US$13.4 billion in foreign loans, after international bondholders met on 4 June to approve the exchange of $3bn of existing Eurobonds for new bonds. That should complete the Eurobond element of the restructuring. However, but Zambia still has to reach agreement on debts owed to the mainly Chinese non-bondholder commercial creditors and the implementation of debt treatments with official creditors.

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