LUSAKA (The Business Telegraph):- It is October 14 and Zambia’s coupon payment on its dollar bond maturing 2024 is due. However, this interest payment matures at a time when the red metal producer is in the labyrinth of deliberations with various creditor classes for possible reprieve in debt service purposes. The Eurobond coupon is important because it is linked to an earlier solicitation request by Zambia’s Ministry of Finance to suspend interest payment for one semi annual cycle – 6 months – to April 14 of 2021. The Southern African nation currently runs a stock of dollar denominated debt totaling…
Author: The Editor
LUSAKA (The Business Telegraph):- With liquidity north of 3 yards in Kwacha terms into the twenty first treasury bills sale held on October 08, the central bank in Africa’s copper producer sold only K458.3million worth of short dated government securities in cash terms. This is one of the weakest subscriptions, at 35.2% of K1.3billion the of the total assets on offer, the year has seen after a series of exceptional performances in the short end of the Kwacha yield curve. With the 36.7% increase in government security auction size for 2H20, a decline in treasury bill subscriptions could add pressure…
Zambia’s head of state President Edgar Lungu greets Chinese contractors during a project inspection visit.
The London Stock Exchange published a list of Q&A that followed Zambia’s presentation to investors and bond holders on 29 September 20.
A budding plant growing through a concrete base depicting Zambia’s V shaped recovery in the labyrinth of uncertainty and fiscal challenges amplified by disease pandemic.
Zambia’s head off state Dr. Edgar Lungu at state house. Lungu swore in Bank of Zambia Governor Christopher Mvunga on 06 October.
A cement factory on Kafue road in Lusaka the capital.
Zambia’s Finance Minister Dr. Bwalya Ng’andu speaking during an invest call on 29 September 2020.
LUSAKA (The Business Telegraph):- It is a Russian roulette moment for Zambia as the 29 September draws nigh. At 12.30pm – London Time Finance Minister Dr. Bwalya Ng’andu will be addressing investors about the copper producers debt situation. This follows an application by the MinFin to freeze coupon payments between 14 October 2020 to 14 April 2021. Eagerness continues to grip Africa’s second largest copper hotspot as to whether its dollar bond holders will nod or reject its request to defer coupon payment in question. The Southern African nation, on 22 September, reached out to its eurobond holders requesting a…
LUSAKA (The Business Telegraph):- Africa’s second largest red metal producer Zambia was on 24 September 2020 ‘C’ rated by Fitch from April’s ‘CC’ credit grading. This is a realignment to Moody’s ‘Ca’ rating after citing widening fiscal vulnerabilities that have been amplified by disease pandemic and the copper producers request to bond holders to freeze coupon interest for 6-months starting 14 October to 14 April. Read more: Fitch downgrades Zambia to ‘CC’ from ‘CCC’ This move comes barely a day to the 2021 budget presentation by the Southern African nations MinFin with an Economic Recovery Plan to be announced in…