Bondholders split on Zambia debt breather

kai - stock.adobe.com

Zambia’s request to defer payment on $3bn of its Eurobonds is the first potential default by an African government during the coronavirus crisis. The process has been poorly managed, say sources close to the matter, throwing into doubt Zambia's chances of winning leniency, the vital first step to avoiding a messy hard default. Mariam Meskin reports.