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Zambia

Zambia

Population: 16.59 mn.
GDP: $25.81 bn.
Debt: $17.09 bn.

news from Zambia

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Found 255 articles.

Displaying 1-10 out of 255 results.

Creditors fume as the beat goes on

After the default, the bondholders and Chinese creditors are jostling for priority but secrecy and local politics are blocking a credible solution

National politics and geopolitics are set to scupper any attempts to resolve the crisis over Zambia's more than US$12 billion foreign debt. There is little sign that President Edga...


New debt demand as bondholders defer decision

A local company goes to court to recover $300m from the state power utility as bondholders postpone a vote on the government's request for debt relief

The operator of the country's only coal-fired power station, Maamba Collieries Ltd., has opened arbitration proceedings with Zambia's state-owned electricity utility Zesco to recov...


The great bond bust

Deteriorating relations between the holders of Zambia's $3 billion Eurobonds and the government after its 22 September request for a six-month suspension of coupon payments point t...


Default hits election plan

The de facto default on Eurobond payments is getting in the way of a plan by the ruling party to create a slush fund for its next election campaign

The government's request on 22 September to holders of its US$3 billion of Eurobonds for a six-month suspension of repayments will have political repercussions as well as the finan...


Unhealthy ambition

The sudden arrest of the health minister is more about the jockeying for high office than campaigns against corruption

Once one of President Edgar Lungu's closest allies and considered by many his most likely successor – or at least his running mate in next year's general election – Chitalu Chilufy...


Gangs of the Copperbelt

The Patriotic Front has helped groups of artisanal miners form companies in return for delivering the vote in this crucial region

As so often in Zambia's elections, the Copperbelt will be decisive in next year's general elections and President Edgar Lungu's Patriotic Front (PF) is facing an uphill battle ther...


On the brink of sovereign default

The government is getting no help from the IMF because it won't stop borrowing unsustainably and covertly

After stopping payments on several commercial loans this year, Zambia is set to default on its US$3 billion Eurobonds, now trading at 'distressed debt' levels, with yields over 50%...


Unhealthy bank balance

Finance Minister Bwalya Ng'andu's January request for a funded programme from the International Monetary Fund may be in danger from continued borrowing beyond the Treasury's contro...


Point of no return

Public finances head south while the Patriotic Front clamps down on dissent ahead of next year’s election

The ruling Patriotic Front's continued state of denial about the country's dire debt situation sees the year begin with loan defaults, dwindling state revenues, disintegrating publ...


Displaying 1-10 out of 255 results.