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Top related persons:
Hakainde - 1 Kevin Daly - 1 Daly - 1 Situmbeko Musokotwane - 1 Marc Jones - 1 Chris Mfula - 1 Libby George - 1 Christina Fincher - 1
Top related locs:
China Zambia Sri Lanka Ghana Lusaka
Top related orgs:
International Monetary Fund - 1 Zambian Finance - 1 IMF - 1 World Bank - 1 Thomson - 1

Search resuls for: "Zambian Finance"


2 mentions found


☆ Zambia's bondholders see debt restructure deal in coming weeks
  + stars: | 2023-06-27 | by ( Marc Jones | ) www.reuters.com   time to read: +3 min
LONDON, June 27 (Reuters) - Zambia's international bondholders expect to strike a debt restructuring deal with the country "in the coming weeks", a leading member said on Tuesday, a move that would draw a line under the nation's near three-year stint in default. "So I think we (bondholders) can now reach a deal in the coming weeks." Daly said that was something bondholders themselves had called for when restructuring talks became stalled last year over how much debt relief would be required. "The adjustment mechanism provides for an accelerated repayment schedule and higher interest rates if Zambia's debt carrying capacity improves from the current 'weak' classification to 'medium' classification," he said. While China has rejected writing off some of the debt altogether, bondholders could still do that, Daly added.
Persons: Hakainde, Kevin Daly, Daly, Situmbeko Musokotwane, Marc Jones, Chris Mfula, Libby George, Christina Fincher, Ed Osmond, William Maclean Organizations: International Monetary Fund, Zambian Finance, IMF, World Bank, Thomson Locations: China, Zambia, Sri Lanka, Ghana, Lusaka
☆ Yellen urges Zambia debt restructure after talks with China
  + stars: | 2023-01-24 | by ( Andrea Shalal | ) www.reuters.com   time to read: +4 min
[1/6] U.S. Treasury Secretary Janet Yellen signs a guest book at the State House during her visit, in Lusaka, Zambia, January 23, 2023. REUTERS/Namukolo SiyumbwaLUSAKA, Jan 23 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Monday during a visit to Zambia that it was critically important to restructure the country's debt, and she believes progress could be made after her frank talks with key creditor China last week. Yellen added that Zambia's debt overhang was a drag on its whole economy and that China had been a barrier to resolving the southern African country's debt problem. "I specifically raised the issue with Zambia (with Chinese officials) and asked for their cooperation in trying to reach a speedy resolution. "We will continue to press for all official bilateral and private-sector creditors to meaningfully participate in debt relief for Zambia, especially China," she said.
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