Zambia pleads for debt standstill in ‘disappointing’ call, promises IMF engagement

AdobeStock_Zambiacrisis_575x375_29Sept2020
By Mariam Meskin
29 Sep 2020

Zambia, which is asking to defer upcoming coupon payments as it seeks to restructure its debt, laid out a time frame for discussions with bondholders this week. But investors were disappointed with the lack of clarity and detail from an investor call with finance minister Bwalya N’gandu this week.

“The crisis situation we are confronted with has inevitably generated liquidity constraints that have resulted in the accumulation of external debt arrears across a spectrum of our creditors,” said Bwalya N’gandu, Zambia’s minister of finance, during an investor call on Tuesday afternoon. He added that the negative spillover ...

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