Zambia

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Zambia to Seek Help in Eurobond Refinancing, President Says

Zambia, which Moody’s Investors Service cut further into junk this weekend, wants help to refinance its first Eurobond that matures in 2022, President Edgar Lungu said during a meeting with his Turkish counterpart Recep Tayyip Erdogan, Bloomberg News rep ...

Daily Headline - global.abi.org - 07/29/2018 - 23:15 - 0 comments

Austerity Measures: Breaking the Myth of Zambia’s Sovereign Debt Crisis

Zambia has seen ‘unprecedented infrastructure’ development in the last six years but at what cost to the economy? In Zambia’s past, debt has been a millstone which has held the country back. The current situation of rising fiscal deficits and public debt ...

Daily Headline - global.abi.org - 07/19/2018 - 01:33 - 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

BofA Raises Concerns About Zambia's Debt

The true size of Zambia’s debt is “debatable” because the country has contracted more loans than official external debt numbers show, Bank of America Merrill Lynch analysts said. While the nation signed up for $5.3 billion in debt from 2015 to 2016 and t ...

Daily Headline - global.abi.org - 04/12/2018 - 21:04 - 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 amortizing bonds due in 2027 rose as much as 54 basis points, th ...

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

Zambia’s ‘Unknown’ Debts Face Scrutiny After Mozambique Scandal

Zambia is facing tough questions over its foreign-debt levels from investors who think the real number may be more than double what the government says it is, Bloomberg News reported. Lenders including Nomura Holdings Inc. believe the state hasn’t come c ...

Daily Headline - global.abi.org - 04/08/2018 - 23:57 - 0 comments

IMF Deadlock Makes Zambia's Bonds the Worst in Emerging Markets

It’s been a bad start to the year for Zambia, Bloomberg News reported. Its Eurobonds are the worst-performing debt among emerging-market sovereign issuers, having lost 5.8 percent, according to Bloomberg indexes. On Monday, the kwacha weakened 1 percent ...

Daily Headline - global.abi.org - 02/19/2018 - 23:51 - 0 comments

Zambia to Seek Restructuring of Debt to China After IMF Warning

Zambia’s cabinet approved plans to restructure the country’s loans from China after the International Monetary Fund said Africa’s second-biggest copper producer was at high risk of debt distress, Bloomberg News reported. The government will also source f ...

Daily Headline - global.abi.org - 02/14/2018 - 01:04 - 0 comments

Lungowe v Vedanta appeal highlights important points regarding parent company liability

This landmark judgment from the Court of Appeal means that 1,826 Zambian villagers can bring a claim in the English courts against UK-based Vedanta and its Zambian subsidiary KCM. This decision raises important questions about whether parent companie ...

Resource Article - twallace@abiwor... - 11/22/2017 - 11:48 - 0 comments - 0 attachments

Zambia Unveils Austerity Measures Amid Copper Price Slump

Mineral-rich Zambia has announced a program of austerity measures to try to close a gaping budget deficit and restore confidence in southern Africa’s third-largest economy amid a global commodity bust and crippling power blackouts, The Wall Street Jour ...

Daily Headline - global.abi.org - 11/29/2015 - 18:14 - 0 comments

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