Zambia's Debt Workout Shifts Back to China After Bondholder Pact [Yahoo! Finance]
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Source: Yahoo! Finance
Most Read from Bloomberg Trump's Net Worth Hits $6.5 Billion, Making Him One of World's 500 Richest People Trump Vows to Pay Fraud Trial Bond Cut by 68% to $175 Million Biden Gains Ground Against Trump in Six Key States, Poll Shows Vital Baltimore Bridge Collapses After Being Struck by Ship After Exposing Realtors, Eliminate the Mortgage Interest Deduction Among the loans Zambia still needs to revamp are $1.9 billion borrowed from state-owned creditors in China including Industrial & Commercial Bank of China Ltd. and China Development Bank, according to a person familiar with the situation. Finance Minister Situmbeko Musokotwane expects the eurobond deal struck Monday should speed the process because it shows what's required to get to yes when dealing with multiple different lenders with dueling priorities. For Zambia, which in November 2020 became Africa's first pandemic era sovereign defaulter and has been trying to restructure ever since, finalizing the process is
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