Bondholders rejected a proposal of Zambia's government
November 13, 2020
Bondholders rejected a proposal of Zambia's government. “While Government regrets that the bondholders did not approve the requests made by Zambia in good faith, we remain committed to finding a consensual and collaborative resolution to debt sustainability issues,” the finance ministry statement said.
Still, the Vice President said the government wouldn't allow the country to default: “This country is not ready to default, and I can assure the honorable members that this country will not default.”
A 30-day “grace period” on the coupon payment of the 8.5% 14apr2024, USD bond expires today.
Company — Zambia
Full nameMinistry of Finance of the Republic of Zambia