Africa

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Congo Republic Says It's Reached Accord With IMF on Three Issues

Congo Republic’s government said it’s reached agreement with the International Monetary Fund on three key areas as it seeks a bailout from the multilateral lender, Bloomberg News reported. The oil-producing central African nation owes creditors at least ...

Daily Headline - global.abi.org - 04/23/2018 - 22:13 - 0 comments

Zambia Risks Asset Attachments as Libya Debt Payments Missed

Libyan telecommunications company LAP GreenN is considering chasing after Zambia’s offshore assets after the southern African country defaulted four times on an order to pay $257 million in compensation for nationalizing a firm it invested in, Bloomberg ...

Daily Headline - global.abi.org - 04/22/2018 - 23:19 - 0 comments

Congo Premier Says Debt Restructuring Will Exclude Eurobonds

The Republic of Congo’s plan to restructure its debt won’t affect holders of its Eurobonds, Prime Minister Clement Mouamba said. Yields on the notes fell for the first time in four days, Bloomberg News reported. The oil-producing central African nation o ...

Daily Headline - global.abi.org - 04/20/2018 - 00:10 - 0 comments

African Nations Slipping into New Debt Crisis

Sub-Saharan Africa is slipping into a new debt crisis, with 40 per cent of the region’s countries now at high risk of debt distress — double the proportion of five years ago, the Financial Times reported. With the number of countries already unable t ...

Daily Headline - global.abi.org - 04/20/2018 - 00:12 - 0 comments

China, India Extend Grace Periods for Mozambique Debt Repayments

China and India extended the grace periods granted to Mozambique for repayment of more than $2.2 billion of debt, the southern African nation’s Finance Ministry said. The two countries agreed to the extensions in talks last year, Stelia Neta, deputy nati ...

Daily Headline - global.abi.org - 04/16/2018 - 22:40 - 0 comments

Pan- African Mortgage Lender Seeks To Have Its Short-Term Debt Restructured

The aftershocks of the 2016 crisis that hit pan-African mortgage lender Shelter Afrique seem to be still being felt two years on. The bank has gone to creditors to have its short-term debt restructured, attributing the crisis to loss confidence that saw ...

Daily Headline - global.abi.org - 04/16/2018 - 22:41 - 0 comments

IMF Resumes Lending to Chad Following Glencore Debt Deal

African oil producer reached an agreement in principal to restructure its more than $1 billion debt to ... banks lent Chad's state oil firm about $1.45 billion in 2014 to be repaid with crude oil cargoes ... African oil producer reached an agreement in principal to restructure its more than $1 billion debt to ...

Daily Headline - global.abi.org - 04/15/2018 - 22:54 - 0 comments

BofA Raises Concerns About Zambia's Debt

billion last year, official external debt only grew $1 billion over the period, analysts Rukayat Yusuf and ...

Daily Headline - global.abi.org - 04/12/2018 - 21:04 - 0 comments

Botswana's Tati Nickel Mine Out of Liquidation After Court Ruling

Botswana’s High Court has taken Tati Nickel Mine out of provisional liquidation, dismissing a request for more time to negotiate with potential buyers, the liquidator said on Wednesday. Tati — a subsidiary of the liquidated BCL mine group — has since Oct ...

Daily Headline - global.abi.org - 04/11/2018 - 23:37 - 0 comments

Zambia's Bonds Sink on Concern It's Pulling a Mozambique on Debt

Investors fretting that Zambia may have more debt than it’s let on have sent the nation’s Eurobonds tumbling, Bloomberg News reported. Yields on the copper-producing country’s $1.25 billion ... News reported. Yields on the copper-producing country’s $1.25 billion amortizing bonds due in 2027 rose ...

Daily Headline - global.abi.org - 04/09/2018 - 22:17 - 0 comments

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