Debt Restructuring | Zambia Strikes Preliminary Deal On $3BLN Int'l Bond

Zambian government has reached an agreement with a consortium of private creditors to restructure $3 billion of its international bonds, marking a significant step towards resolving its long-standing debt issues.
The latest agreement proposes consolidating Zambia’s three existing instruments into two amortising bonds, one of which would offer higher repayments should the country’s economic prospects and debt management capabilities improve.
Zambia’s President, Mr. Hakainde Hichilema expresses his satisfaction with the agreement stating, “History has been made! We are pleased to announce the agreement with our Eurobond holders.”
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