Next Africa: Zambia Is Focus of Global Debt Crisis

SourceBloomberg
SectorEconomy
CountryMiddle east

 Welcome to Next Africa, a weekly newsletter of where the continent stands now — and where it's going next.Zambia is in the global spotlight for all the wrong reasons.The southern African nation skipped a coupon instalment on its Eurobonds this week, increasing the likelihood of a debt default. The government has called on private creditors to agree to a deferral of payments at an Oct. 20 meeting, but many are reluctant to comply.The country is now a test case for how the international community will treat nations that can’t meet their commercial debt obligations, even ...read more...