Zambia: IMF agreement is crucial first step
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Zambia reached a staff-level agreement for a 3-year IMF programme on 3 December
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Board approval pending official sector financing assurances and sufficient progress with private sector debt talks
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Positive step towards reform/restructuring, but eurobonds still overpriced; retain Sell eurobonds / Buy local debt
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
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