The government of the Chinese city of Tianjin, the only shareholder of bankrupt Bohai Steel Group Ltd, is demanding that Bohai’s creditors and strategic investor implement a bankruptcy restructuring plan by the end of September, two creditor sources with direct knowledge of the matter said, Reuters reported. Bohai Steel, a former Fortune Global 500 company that was founded by the Tianjin municipal government in 2010 by merging four local steelmakers, collapsed in 2016 with more than 200 billion yuan ($28.4 billion) in unpaid debt, the biggest bankruptcy restructuring in China’s history.

Mozambique’s talks with the International Monetary Fund (IMF) are making “encouraging progress,” as the country seeks to restore access to international financing, President Filipe Nyusi said on Wednesday, Reuters reported. Mozambique has been battling to recover from a debt crisis after admitting in 2016 to $1.4 billion (£1.15 billion) of previously undisclosed lending, prompting the IMF to cut off support and triggering a currency collapse and debt default.

Lebanese Parliament Speaker Nabih Berri said he had a “positive” feeling over a sovereign credit rating report expected later this week, although he had no information about it, Lebanese newspaper al-Joumhouria reported on Wednesday, Reuters reported. Lebanon, saddled with one of the world’s heaviest public debt burdens and blighted by years of low economic growth, is seeking to put its public finances on a sustainable path by implementing long-delayed economic reforms. However, markets have been pricing in the risk of a sovereign credit rating downgrade in recent days.

Germany has sold 30-year debt at a negative yield for the first time, although demand at Wednesday’s auction was weak as some investors balked at the prospect of paying to tie up their cash for three decades, the Financial Times reported. The sale of a new bond maturing in 2050 priced with a yield of minus 0.11 per cent, roughly in line with yields in the secondary market. German 30-year bonds have sunk into negative territory in recent weeks as investors pile into safe assets in anticipation of a revival of the European Central Bank’s bond-buying quantitative easing programme.

Housing Development & Infrastructure Ltd. fell to a record and Oberoi Realty Ltd. dropped as authorities intensify their clean up of India’s struggling property sector, Bloomberg News reported. Bankruptcy proceedings will begin against HDIL after creditor Bank of India filed an application, the developer said in a filing Tuesday, adding that it will appeal the decision.

Zambia’s central bank kept its key interest rate unchanged to boost economic growth, while warning that it could tighten policy if inflation doesn’t return to target, Bloomberg News reported. The Bank of Zambia held the rate at 10.25%, Governor Denny Kalyalya told reporters Wednesday in the capital, Lusaka. That’s after the Monetary Policy Committee bucked the global trend in May by tightening by 50 basis points as inflation was accelerating.

Gold miner Avocet Mining Plc on Wednesday appointed Paul Williams and Geoffrey Bouchier from Duff & Phelps Ltd as joint administrators, as it started its insolvency process, Reuters reported. The appointments, effective Aug. 21, come a few months after the struggling gold miner said its board proposed voluntary liquidation of the company as it faced mounting debt. Last week, the West Africa-focussed miner said it would pursue a formal insolvency process by appointing administrators to the company, but also remained open to exploring “viable funded investment opportunities”.

Indian tycoons including Ajay Piramal and Pallonji Mistry are grappling with a prolonged realty slump that’s adding to the shadow banking crisis, showing that even the nation’s richest can’t escape widening cracks in the debt market, Bloomberg News reported. Ratings of some companies in the conglomerates run by billionaires Piramal and Mistry have been cut as the business environment worsened and funding costs rose.

An acceleration in economic growth in South Africa could trigger power cuts, with state utility Eskom Holdings SOC Ltd.’s fragile generation system unable to respond to increased demand for electricity, Bloomberg News reported. The energy availability of Eskom’s generation fleet is supposed to be as high as 80%, but is currently as low as 69%, and even a 0.1% rise in gross domestic product could result in outages, Nelisiwe Magubane, an Eskom board member, said at an event organized by research company Afriforesight in Johannesburg on Wednesday.

Less than two years after Argentina made a splash in markets by selling a $2.75 billion, 100-year bond, another debt restructuring is a real possibility after President Mauricio Macri was routed in a primary election, Bloomberg News reported. Money managers and analysts from firms including Citigroup Inc. and Bank of America Corp. say investors are likely to recoup less than 40 cents on the dollar on its notes if Argentina reneges on its debt for the third time in two decades.