Zambia

Zambia: Stuck in the mud with frustration growing

  • Zambian debt restructurings is being held up by China and IMF's decision to classify its debt carrying capacity as low

  • These delays are causing obvious frustration for the Zambian authorities amid a worsening economic situation

  • Zambia may have to look for ways to restructure without China; Buy on eurobonds, downgrade domestic debt to Sell

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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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