Sovereign Analysis /
Zambia

Zambian election is a toss-up – result will dictate path for eurobonds

  • Incumbent President Lungu likely to lose fair race, but he could manipulate results and margins are thin; odds are 50/50

  • Economic outlook much better if opposition wins, with presidential candidate HH running on pro-business platform

  • Eurobonds look overpriced, but retain Hold as they could still rally on HH victory given better IMF/reform prospects

Zambian election is a toss-up – result will dictate path for eurobonds
Patrick Curran
Tellimer Research
3 August 2021
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